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Debt Maturity

Debt Maturity »

Source: Debt Maturity : Does It Matter for Fiscal Space?

Volume/Issue: 2015/257

Series: IMF Working Papers

Author(s): Jun Kim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 December 2015

ISBN: 9781513511931

Keywords: Debt sustainability, Fiscal policy, Public debt, Econometric models, Fiscal space, Sovereign debt defaults, sovereign default, debt maturity, debt limit, Deficit

This paper examines how debt maturity affects the debt limit, defined as the maximum amount of debt a government can afford without defaulting. We develop a model where investors are risk neutral, the primary balan...

Optimal Fiscal and Monetary Policy, Debt Crisis and Management*

Optimal Fiscal and Monetary Policy, Debt Crisis and Management* »

Source: Optimal Fiscal and Monetary Policy, Debt Crisis and Management

Volume/Issue: 2017/78

Series: IMF Working Papers

Author(s): Cristiano Cantore , Paul Levine , Giovanni Melina , and Joseph Pearlman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 March 2017

ISBN: 9781475590180

Keywords: Crisis management, Debt consolidation, Optimal fiscal-monetary policy, long-term debt, fiscal limits, Monetary Policy (Targets, Instruments, and Effects)

The initial government debt-to-GDP ratio and the government's commitment play a pivotal role in determining the welfare-optimal speed of fiscal consolidation in the management of a debt crisis. Under commitment, fo...

Changing Patterns in Low-Income Country Financing and Implications for Fund Policies on External Financing and Debt

Changing Patterns in Low-Income Country Financing and Implications for Fund Policies on External Financing and Debt »

Source: Changing Patterns in Low-Income Country Financing and Implications for Fund Policies on External Financing and Debt

Volume/Issue: 2009/015

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 February 2009

ISBN: 9781498336253

Keywords: Debt, Debt management, Debt sustainability, External debt, External financing, Fund policies, Low-income developing countries, Domestic debt, External debt limits, Access to international capital markets

Low-income countries (LICs) face significant challenges in meeting their development objectives while maintaining a sustainable debt position. The international community's main answer to this dilemma has been to p...

A Constrained Choice? Impact of Concessionality Requirements on Borrowing Behavior

A Constrained Choice? Impact of Concessionality Requirements on Borrowing Behavior »

Source: A Constrained Choice? Impact of Concessionality Requirements on Borrowing Behavior

Volume/Issue: 2014/176

Series: IMF Working Papers

Author(s): Calixte Ahokpossi , Laurence Allain , and Giovanna Bua

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2014

ISBN: 9781498349727

Keywords: Concessionality, debt limits policy, propensity score matching, external debt, public debt, private creditors, debt relief, concessional debt, International Monetary Arrangements and Institutions, International Lending and Debt Problems

This paper uses the propensity matching score approach to assess the impact of the IMF's debt limits policy (DLP) on borrowing behavior in countries eligible to borrow from its concessional lending window. The pape...

Review of the Policy on Debt Limits in Fund-Supported Programs

Review of the Policy on Debt Limits in Fund-Supported Programs »

Source: Review of the Policy on Debt Limits in Fund-Supported Programs

Volume/Issue: 2013/019

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 March 2013

ISBN: 9781498342186

Keywords: Developed countries, External debt, Fund policies, Fund-supported adjustment programs, Low-income developing countries, Heavily indebted poor countries, Discount rates, Multilateral debt, External debt limits, Financial crises

This review examines the experience with the policy on debt limits in Fund-supported programs across the membership and proposes possible reforms to strengthen the policy. The policy was last reformed in 2009 with...

Debt Limits in Fund-Supported Programs - Proposed New Guidelines - Supplementary Information and Proposed Decision

Debt Limits in Fund-Supported Programs - Proposed New Guidelines - Supplementary Information and Proposed Decision »

Source: Debt Limits in Fund-Supported Programs - Proposed New Guidelines - Supplementary Information and Proposed Decision

Volume/Issue: 2009/057

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 August 2009

ISBN: 9781498335669

Keywords: Access limits, Access to Fund general resources, Concessional aid, Debt management, Debt sustainability, External debt, External financing, Financial management, Fund approval proposed, Fund facilities

This supplement summarizes the reforms proposed in IMF (2009a, b)1 to the existing framework governing external debt limits in Fund-supported programs, and presents the proposed decision that is needed to implement...

Staff Guidance Note on Debt Limits in Fund-Supported Programs

Staff Guidance Note on Debt Limits in Fund-Supported Programs »

Source: Staff Guidance Note on Debt Limits in Fund-Supported Programs

Volume/Issue: 2009/101

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 December 2009

ISBN: 9781498335034

Keywords: Access limits, Access to Fund general resources, Concessional aid, Conditionality guidelines, External debt, Fund policies, Low-income developing countries, Public debt, Public enterprises, Domestic debt

In August 2009, the Executive Board approved new guidelines on external debt limits in Fund-supported programs. Debt limits seek to prevent the build-up of unsustainable debts, while allowing for adequate external...

Revisiting the Debt Sustainability Framework for Low-Income Countries

Revisiting the Debt Sustainability Framework for Low-Income Countries »

Source: Revisiting the Debt Sustainability Framework for Low-Income Countries

Volume/Issue: 2012/098

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2012

ISBN: 9781498341028

Keywords: Debt sustainability, External debt, Fiscal policy, Infrastructure, Low-income developing countries, Public debt, Public investment, Domestic debt, Balance of payments, External debt limits

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...

Fiscal Limits, External Debt, and Fiscal Policy in Developing Countries*

Fiscal Limits, External Debt, and Fiscal Policy in Developing Countries* »

Source: Fiscal Limits, External Debt, and Fiscal Policy in Developing Countries

Volume/Issue: 2014/49

Series: IMF Working Papers

Author(s): Huixin Bi , Wenyi Shen , and Susan Yang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 March 2014

ISBN: 9781475521665

Keywords: fiscal limits, sovereign default risk, state-dependent fiscal multiplier, government spending, tax rates, External Debt, and Fiscal Policy in Developing Countries, General,

This paper studies fiscal policy effects in developing countries with external debt and sovereign default risks. State-dependent distributions of fiscal limits are simulated based on macroeconomic uncertainty and f...

Staff Guidance Note on the Implementation of Public Debt Limits in Fund-Supported Programs

Staff Guidance Note on the Implementation of Public Debt Limits in Fund-Supported Programs »

Source: Staff Guidance Note on the Implementation of Public Debt Limits in Fund-Supported Programs

Volume/Issue: 2015/027

Series: Policy Papers

Author(s): International Monetary Fund. Strategy, Policy, & Review Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 May 2015

ISBN: 9781498344609

Keywords: Borrowing, Concessional aid, Conditionality, External debt, Fund policies, Fund-supported adjustment programs, Public debt, Domestic debt, Access to international capital markets, Social security funds

In December 2014, the Executive Board approved new guidelines on the use of public debt limits in Fund-supported programs. The new guidelines enter into effect on June 30, 2015. The key changes with respect to the...