MarketFiscal pedaling
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Fiscal pedaling

Fiscal pedaling is a governmental creative accounting technique involving the use of state-owned banks to front funds required for paying general government obligations without officially declaring a loan, thus hiding these transfers from public scrutiny and delaying repayment from the Treasury to these banks. As such it is a kind of "overdraft" implying a positive balance sheet that does not really exist. Sometimes the term fiscal backpedaling is used.

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