Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
External Debt Sustainability
Download External Debt Sustainability full books in PDF, epub, and Kindle. Read online External Debt Sustainability ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis Public Debt Sustainability by : Barry W. Poulson
Download or read book Public Debt Sustainability written by Barry W. Poulson and published by Rowman & Littlefield. This book was released on 2022-01-04 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: As countries recover from the coronavirus pandemic, they are confronted with an even more challenging debt crisis. Xavier Debrun argues in the foreword that in deciding where we go from here that there is no longer a consensus regarding the optimum design and enforcement of fiscal rules. Rather we must address a series of questions and challenges to the conventional wisdom. This book provides an opportunity for scholars to explore these questions from an international perspective, with reference to European countries, and emerging nations as well as the United States.
Book Synopsis When is External Debt Sustainable? by : Aart Kraay
Download or read book When is External Debt Sustainable? written by Aart Kraay and published by World Bank Publications. This book was released on 2004 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 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 Public Debt Sustainability in Developing Asia by : Benno Ferrarini
Download or read book Public Debt Sustainability in Developing Asia written by Benno Ferrarini and published by Routledge. This book was released on 2012-11-12 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing the Global Financial Crisis required fiscal intervention on a substantial scale by governments around the world. The consequent build up of public debt, in particular its sustainability, have moved centre stage in the policy debate. If the Asia Pacific region is to continue to serve as an engine for global growth its public debt must be sustainable. The book addresses this issue for Asia Pacific as a whole as well as for three of the most dynamic economies in the region: China, India and Vietnam. The book begins with a discussion of the reasons why there is increased attention on debt related issues and outline the contents of the volume. The book also includes fiscal indicators for Developing Member Countries (DMCs) as categorized by the Asian Development Bank (ADB). Debt sustainability for these countries is assessed through extant approaches and with the most updated data sources. It also surveys the extant literature on debt sustainability, outlining the main issues related to debt sustainability and discusses the key implications for the application of debt sustainability analysis in developing Asia. The book highlights the importance of doing individual country studies in view of wide variations in definitions of public expenditure, revenues, contingent liabilities, government structures (e.g. federal), and the like as well as in the impact of debt on interest rates. It provides in-depth debt sustainability analyses of China, India and Vietnam. The book is a comprehensive analytical and empirical update of the sustainability public debt in developing Asia. It breakes new ground in that various characteristics of the sustainability that have not yet been explored in the literature which, nevertheless, are crucial to understanding it. As a consequence, the policy analysis is based on firmer footings than in the extant literature and should prove useful to graduate students, researchers as well as policymakers.
Book Synopsis External Conditions and Debt Sustainability in Latin America by : Gustavo Adler
Download or read book External Conditions and Debt Sustainability in Latin America written by Gustavo Adler and published by International Monetary Fund. This book was released on 2013-01-30 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Highly favorable external conditions have helped Latin America strengthen its economic fundamentals over the last decade. But, has the region built enough buffers to guard itself from a weakening of the external environment? This paper addresses this question by developing a simple framework that integrates econometric estimates of the effect of global factors on key domestic variables that determine public and external debt dynamics, with the IMF‘s standard debt sustainability framework. Results suggest that, while some countries in the region are well placed to withstand moderate or even large shocks, many would benefit from having stronger buffers to be in a position to deploy countercyclical policies, especially under tail events. External sustainability, on the other hand, does not appear to be a source of concern for most countries.
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 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 The Impact of Debt Sustainability and the Level of Debt on Emerging Markets Spreads by : Nazim Belhocine
Download or read book The Impact of Debt Sustainability and the Level of Debt on Emerging Markets Spreads written by Nazim Belhocine and published by International Monetary Fund. This book was released on 2013-05-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: How do financial markets respond to concerns over debt sustainability and the level of public debt in emerging markets? We introduce a measure of debt sustainability – the difference between the debt stabilizing primary balance and the primary balance–in an otherwise standard spread regression model applied to a panel of 26 emerging market economies. We find that debt sustainability is an important determinant of spreads. In addition, using a panel smooth transition regression model, we find that the sensitivity of spreads to debt sustainability doubles as public debt increases above 45 percent of GDP. These results suggest that market interest rates react more to debt sustainability concerns in a country with a high level of debt compared to a country with a low level of debt.
Book Synopsis When is External Debt Sustainable? by : Aart Kraay
Download or read book When is External Debt Sustainable? written by Aart Kraay and published by . This book was released on 2016 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Kraay and Nehru empirically examine the determinants of quot;debt distress,quot; which they define as periods in which countries resort to exceptional finance in any of three forms: (1) significant arrears on external debt, (2) Paris Club rescheduling, and (3) nonconcessional International Monetary Fund lending. Using probit regressions, the authors find that three factors explain a substantial fraction of the cross-country and time-series variation in the incidence of debt distress: the debt burden, the quality of policies and institutions, and shocks. They show that these results are robust to a variety of alternative specifications, and that their core specifications have substantial out-of-sample predictive power. The authors also explore the quantitative implications of these results for the lending strategies of official creditors.This paper - a joint product of Investment Climate, Development Research Group, and Heavily Indebted Poor Countries (Africa and Latin America), Poverty Reduction and Economic Management Network - is part of a larger effort in the Bank to study debt sustainability issues.
Book Synopsis External Debt Sustainability by : Claudio M. Loser
Download or read book External Debt Sustainability written by Claudio M. Loser and published by . This book was released on 2004 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 :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 External Debt Sustainability in HIPC Completion Point Countries by : Jie Yang
Download or read book External Debt Sustainability in HIPC Completion Point Countries written by Jie Yang and published by International Monetary Fund. This book was released on 2009-06-01 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite substantial debt relief to HIPC Initiative completion point countries, long-term debt sustainability remains a challenge. This paper examines a number of structural factors affecting external debt sustainability. It shows that in HIPC completion point countries (i) the export base broadly remains narrow; (ii) fiscal revenue mobilization lags behind in some countries; and (iii) policy and institutional frameworks are still relatively weak. Achieving and maintaining longterm debt sustainability in completion point countries will require continued structural reforms, timely donor support, and close monitoring of new non-concessional borrowing.
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 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.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1513568329 Total Pages :124 pages Book Rating :4.5/5 (135 download)
Book Synopsis Review of The Debt Sustainability Framework For Market Access Countries by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Review of The Debt Sustainability Framework For Market Access Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2021-02-03 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: A careful review has revealed significant scope to modernize and better align the MAC DSA with its objectives and the IMF’s lending framework. This note proposes replacing the current framework with a new methodology based on risk assessments at three different horizons. Extensive testing has shown that the proposed framework has much better predictive accuracy than the current one. In addition to predicting sovereign stress, the framework can be used to derive statements about debt stabilization under current policies and about debt sustainability.
