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Applying The Debt Sustainability Framework For Low Income Countries Post Debt Relief
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Book Synopsis Applying the Debt Sustainability Framework for Low-Income Countries Post Debt Relief by : World Bank
Download or read book Applying the Debt Sustainability Framework for Low-Income Countries Post Debt Relief written by World Bank and published by International Monetary Fund. This book was released on 2006-06-11 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: In April 2006, the Executive Boards of the Bank and the Fund reviewed the debt sustainability framework (DSF) for low-income countries and the implications of the multilateral debt relief initiative. Directors thought that the DSF was broadly appropriate and that no major changes were warranted, but saw scope for additional guidance on the application of the framework in a context where the apparent borrowing space created by debt relief raises new challenges in terms of policy advice. Most Directors supported a case-by-case approach for assessing the appropriate pace of debt accumulation in countries with debt below the DSF thresholds, but requested the development of specific recommendations on the implementation of such a case-by-case approach.
Book Synopsis Staff Guidance Note on the Application of the Joint Fund-Bank Debt Sustainability Framework for Low-Income Countries by : International Monetary Fund
Download or read book Staff Guidance Note on the Application of the Joint Fund-Bank Debt Sustainability Framework for Low-Income Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-01-25 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of the joint Bank-Fund debt sustainability framework for low-income countries is to support LICs in their efforts to achieve their development goals without creating future debt problems. Countries that have received debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI) need to be kept on a sustainable track. Under the framework, country DSAs are prepared jointly by Bank and Fund staff, with close collaboration between the two staffs on the design of the macroeconomic baseline, alternative scenarios, the debt distress rating, and the drafting of the write-up
Book Synopsis Staff Guidance Note on the Application of the Joint Fund-Bank Debt Sustainability Framework for Low-Income Countries by : World Bank
Download or read book Staff Guidance Note on the Application of the Joint Fund-Bank Debt Sustainability Framework for Low-Income Countries written by World Bank and published by International Monetary Fund. This book was released on 2008-06-10 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of the joint Fund-Bank debt sustainability framework for low-income countries is to support LICs in their efforts to achieve their development goals without creating future debt problems. Countries that have received debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI) need to be kept on a sustainable track. Under the framework, country DSAs are prepared jointly by Bank and Fund staff, with close collaboration between the two staffs on the design of the macroeconomic baseline, alternative scenarios, the debt distress rating, and the drafting of the write-up.
Book Synopsis Staff Guidance Note on the Application of the Joint Bank-Fund Debt Sustainability Framework for Low-Income Countries by : World Bank
Download or read book Staff Guidance Note on the Application of the Joint Bank-Fund Debt Sustainability Framework for Low-Income Countries written by World Bank and published by International Monetary Fund. This book was released on 2013-05-10 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Low-income countries (LICs) face significant challenges in meeting their development objectives while at the same time ensuring that their external debt remains sustainable. In April 2005, the Executive Boards of the International Monetary Fund (IMF) and the International Development Association (IDA) endorsed the Debt Sustainability Framework (DSF), a tool developed jointly by IMF and World Bank staff to conduct public and external debt sustainability analysis in low-income countries. The DSF aims to help guide the borrowing decisions of LICs, provide guidance for creditors’ lending and grant allocation decisions, and improve World Bank and IMF assessments and policy advice.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498307264 Total Pages :72 pages Book Rating :4.4/5 (983 download)
Book Synopsis Guidance Note on the Bank-Fund Debt Sustainability Framework for Low Income Countries by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Guidance Note on the Bank-Fund Debt Sustainability Framework for Low Income Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2018-02-14 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Low-income countries (LICs) face significant challenges in meeting their Sustainable Development Goals (SDGs) while at the same time ensuring that their external debt remains sustainable. In April 2005, the Executive Boards of the International Monetary Fund (IMF) and the International Development Association (IDA) approved the introduction of the Debt Sustainability Framework (DSF), a tool developed jointly by IMF and World Bank staff to conduct public and external debt sustainability analysis in low-income countries. The DSF has since been serving to help guide the borrowing decisions of LICs, provide guidance for creditors’ lending and grant allocation decisions, and improve World Bank and IMF assessments and policy advice. The latest review of the framework was approved by the Executive Boards in September 2017. This introduced reforms to ensure that the DSF remains appropriate for the rapidly changing financing landscape facing LICs and to further improve insights into debt vulnerabilities. This note provides operational and technical guidance on the implementation of the reformed framework.
Book Synopsis The Debt Sustainability Framework for Low-income Countries by : Bergljot Barkbu
Download or read book The Debt Sustainability Framework for Low-income Countries written by Bergljot Barkbu and published by . This book was released on 2008 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Low-income countries continue to face significant challenges in meeting their vast development needs while maintaining a sustainable debt position, even after many of these countries have benefited from substantial debt relief. These challenges are further exacerbated by changes in the financial landscape, including the emergence of new creditors and investors, the use of more complex financing vehicles, and the development of domestic markets. The joint World Bank/IMF debt sustainability framework is well placed to help address these challenges and reduce the risks of renewed episodes of debt distress. This paper explains the analytical underpinnings of the framework and the means to ensure its full effectiveness.--Publisher's description.
Book Synopsis Review of Low-Income Country Debt Sustainability Framework and Implications of the Multilateral Debt Relief Initiative (MDRI) by : International Monetary Fund
Download or read book Review of Low-Income Country Debt Sustainability Framework and Implications of the Multilateral Debt Relief Initiative (MDRI) written by International Monetary Fund and published by International Monetary Fund. This book was released on 2006-03-24 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the experience with the joint IMF-World Bank Debt Sustainability Framework for low-income countries, including cooperation between the staffs, and highlights the implications of the Multilateral Debt Relief Initiative.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498346359 Total Pages :111 pages Book Rating :4.4/5 (983 download)
Book Synopsis Review of the Debt Sustainability Framework for Low Income Countries by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Review of the Debt Sustainability Framework for Low Income Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2017-02-10 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Debt Sustainability Framework for Low-income Countries (LIC DSF) has been the cornerstone of assessments of risks to debt sustainability in LICs. The framework classifies countries based on their assessed debt-carrying capacity, estimates threshold levels for selected debt burden indicators, evaluates baseline projections and stress test scenarios relative to these thresholds, and then combines indicative rules and staff judgment to assign risk ratings of external debt distress. The framework has demonstrated its operational value since the last review was conducted in 2012, but there are areas where new features can be introduced to enhance its performance in assessing risks. Against the backdrop of the evolving nature of risks facing LICs, both staff analysis and stakeholder feedback suggest gaps in the framework to be addressed. Complexity and lack of transparency have also been highlighted as causes for concern. This paper proposes a set of reforms to enhance the value of the LIC DSF for all users. In developing these reforms, staff has been guided by two over-arching principles: a) the core architecture of the DSF—model-based results complemented by judgment—remains appropriate; and b) reforms should ensure that the DSF maintains an appropriate balance by providing countries with early warnings of potential debt distress without unnecessarily constraining their borrowing for development.
Book Synopsis Kenya by : International Monetary Fund
Download or read book Kenya written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-01-08 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report of the Debt Sustainability Analysis (DSA) indicates that the envisaged strategy of a partial substitution of domestic debt by increased inflows of external grants and concessional loans, as well as a rescheduling of external debt by the Paris and London Clubs, would facilitate the achievement of debt sustainability. The DSA also confirms that such a debt rescheduling could constitute an appropriate exit strategy for Kenya. The DSA also shows that debt sustainability would improve significantly with a concessional rescheduling, particularly under the Naples terms.
Book Synopsis Debt Sustainability in Low-Income Countries - Further Considerations on an Operational Framework and Policy Implications by : World Bank
Download or read book Debt Sustainability in Low-Income Countries - Further Considerations on an Operational Framework and Policy Implications written by World Bank and published by International Monetary Fund. This book was released on 2004-10-09 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper seeks to address queries on several operational issues: (i) the robustness of the indicative thresholds; (ii) modalities for implementing DSAs; and (iii) operational implications for the Fund, Bank, and other international financial institutions and creditors.
Book Synopsis Debt-Sustainability in Low-Income Countries - Proposal for an Operational Framework and Policy Implications by : International Monetary Fund. Finance Dept.
Download or read book Debt-Sustainability in Low-Income Countries - Proposal for an Operational Framework and Policy Implications written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2004-03-02 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Author :International Monetary Fund Publisher :INTERNATIONAL MONETARY FUND ISBN 13 :9781498341028 Total Pages :70 pages Book Rating :4.3/5 (41 download)
Book Synopsis Revisiting the Debt Sustainability Framework for Low-Income Countries by : International Monetary Fund
Download or read book Revisiting the Debt Sustainability Framework for Low-Income Countries written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2012-12-01 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduced in 2005, the joint IMF-World Bank Debt Sustainability Framework (DSF) is a standardized framework for conducting public and external debt sustainability analysis (DSA) in low-income countries (LICs). It aims to help guide the borrowing decisions of LICs, provide guidance for creditors‘ lending and grant allocation decisions, and improve World Bank and IMF assessments and policy advice. The framework was previously reviewed in 2006 and 2009. This paper provides a comprehensive review of the framework to assess whether it remains adequate in light of changing circumstances in LICs. It reviews the DSF‘s performance to date, presents the results of recent analytical work by IMF and World Banks staffs, and discusses a number of areas in which the framework could be improved.
Book Synopsis A Review of Some Aspects of the Low-Income Country Debt Sustainability Framework by : International Monetary Fund
Download or read book A Review of Some Aspects of the Low-Income Country Debt Sustainability Framework written by International Monetary Fund and published by International Monetary Fund. This book was released on 2009-05-08 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Bank-Fund Debt Sustainability Framework (DSF) is a standardized framework for analyzing debt-related vulnerabilities in low-income countries (LICs). It aims to help countries monitor their debt burden and take early preventive action, to provide guidance to creditors in ensuring their lending decisions are consistent with countries’ development goals, and to improve the Bank and Fund’s assessments and policy advice. The DSF was last reviewed in 2006, and a reconsideration of some aspects of the framework is timely.
Book Synopsis Debt Sustainability in Low-Income Countries by : Yasemin Bal Gunduz
Download or read book Debt Sustainability in Low-Income Countries written by Yasemin Bal Gunduz and published by International Monetary Fund. This book was released on 2017-05-09 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates the determinants of external debt distress in low-income countries (LICs), disentangling the roles of institutions, shocks, and policies. The most prominent factors in raising the risk of debt distress are the weak protection of private property rights, adverse shocks to real non-oil commodity prices, and a high debt burden. Results also suggest that weak economic institutions tend to raise the probability of debt distress through persistently weak economic policies and high vulnerability to external shocks. The model enables a more granular analysis of debt sustainability in LICs and has a higher predictive power compared to the earlier scant literature.
Book Synopsis Operational Framework for Debt Sustainability Assessments in Low-Income Countries - Further Considerations by : International Monetary Fund
Download or read book Operational Framework for Debt Sustainability Assessments in Low-Income Countries - Further Considerations written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-03-28 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Building on initial discussions of the proposed framework in February/March 2004, and further considerations in September 2004, this paper responds to remaining concerns that need to be resolved to make the framework operational. These concerns relate to the indicative debt-burden thresholds (Section II); the interaction of the framework with the HIPC Initiative (Section III); and the modalities for Bank-Fund collaboration in deriving a common assessment of sustainability (Section IV). This note should be read in conjunction with the original proposal, which presented the wider issues on the use of the indicative thresholds, the evaluation of policies and institutions, and the need for discretion when assessing sustainability on a forward-looking basis.
Book Synopsis Debt Sustainability Analyses for Low-Income Countries: An Assessment of Projection Performance by : Mr.Henry Mooney
Download or read book Debt Sustainability Analyses for Low-Income Countries: An Assessment of Projection Performance written by Mr.Henry Mooney and published by International Monetary Fund. This book was released on 2017-10-30 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops new error assessment methods to evaluate the performance of debt sustainability analyses (DSAs) for low-income countries (LICs) from 2005-2015. We find some evidence of a bias towards optimism for public and external debt projections, which was most appreciable for LICs with the highest incomes, prospects for market access, and at ‘moderate’ risk of debt distress. This was often driven by overly-ambitious fiscal and/or growth forecasts, and projected ‘residuals’. When we control for unanticipated shocks, we find that biases remain evident, driven in part by optimism regarding government fiscal reaction functions and expected growth dividends from investment.
Book Synopsis An Application of the "Fan-Chart Approach" to Debt Sustainability in Post-HIPC Low-Income Countries by : Maximilien Kaffo Melou
Download or read book An Application of the "Fan-Chart Approach" to Debt Sustainability in Post-HIPC Low-Income Countries written by Maximilien Kaffo Melou and published by International Monetary Fund. This book was released on 2014-06-11 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyse the debt dynamics in countries that benefited from the HIPC/MDRI debt relief initiatives with a view to applying a probabilistic approach to estimating future debt paths for those countries. We extend the probabilistic approach to public debt sustainability analysis (DSA) proposed by Celasun et al. (2006). This required addressing the twin challenges of a the time period that is too short to conduct country-by-country estimations and the presence, suggested by econometric evidence, of a break–point around 2006 in the dynamics of debt accumulation. To overcome the data limitations, we pool the data and estimate a panel VAR, thus taking advantage of the large cross–section. To account for the break–point, while applying a probabilistic approach to forecasting debt paths, we use the post–break–point information so as not to bias the forecasts of debt paths. As an illustration of the approach we apply the methodology to eight countries with different debt profiles.
