Resolving a Large Contingent Fiscal Liability : Eastern European Experiences

On occasion, a government may find itself confronted with a need to address a large contingent or off balance sheet fiscal liability. Implementing a settlement raises issues of fiscal sustainability and macroeconomic stability. This paper surveys the key design issues, and draws lessons from recent Eastern European experience. It then considers in more detail the particular case of Ukraine, and how it might approach its own large contingent liability-the so-called lost savings-which at end-2007 amounted to as much as 18 percent of GDP.
Publication date: June 2008
ISBN: 9781451870176
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Economics- Macroeconomics , International - Economics , Contingent liability , macroeconomic stabilization , debt service , current account , fiscal policy , debt settlement

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