// definition
Quasi-fiscal activity
Public-policy intervention outside the central government budget
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Short definition
An intervention by a central bank or public institution with effects comparable to government spending, a subsidy or revenue, but recorded outside the central government budget. Moving it into that budget can make the cost more visible without automatically eliminating it.
risk atlas
Knowledge map
Intuition
Moving a policy expense between public institutions changes who records it, while its public cost can remain.
Primary sources
- IMF, Ghana, country report 26/212Paragraph 81: transfer of central-bank quasi-fiscal risks and their public funding.