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An Application of the "Fan-Chart Approach" to Debt Sustainability in Post-HIPC Low-Income Countries

An Application of the "Fan-Chart Approach" to Debt Sustainability in Post-HIPC Low-Income Countries »

Source: An Application of the "Fan-Chart Approach" to Debt Sustainability in Post-HIPC Low-Income Countries

Volume/Issue: 2014/102

Series: IMF Working Papers

Author(s): Maximilien Kaffo Melou , Mariusz Sumlinski , and Chris Geiregat

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 June 2014

ISBN: 9781498345033

Keywords: HIPC, MDRI, fan chart, debt sustainablity, debt relief, debt sustainability, debt accumulation, debt dynamics, Deficit, International Lending and Debt Problems

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 t...

BRICs’ Philosophies for Development Financing and their Implications for LICs

BRICs’ Philosophies for Development Financing and their Implications for LICs »

Source: BRICs' Philosophies for Development Financing and their Implications for LICs

Volume/Issue: 2012/74

Series: IMF Working Papers

Author(s): Yongzheng Yang , and Nkunde Mwase

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2012

ISBN: 9781475502268

Keywords: BRICs, Russia, Institutions, LICs, development financing, debt sustainability, debt relief, public investment, commodity prices, History Of Thought: - Individuals

Flows of development financing from the BRICs (Brazil, Russia, India, and China) to low income countries (LICs) have surged in recent years. Unlike aid from traditional donors, BRICs (excluding Russia) view their f...

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...

Debt Growth and the Prospects for Debt Reduction;The Case of Sub-Saharan African Countries

Debt Growth and the Prospects for Debt Reduction;The Case of Sub-Saharan African Countries »

Source: Debt Growth and the Prospects for Debt Reduction;The Case of Sub-Saharan African Countries

Volume/Issue: 1989/71

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 September 1989

ISBN: 9781451959680

Keywords: debt, debt service, payments, interest, debt relief

This paper analyzes the causes of growth of Africa’s debt burden, and discusses the factors that induced African countries to seek external loans as well as the factors affecting the supply of external finan...

A Debt Overhang Model for Low-Income Countries: Implications for Debt Relief

A Debt Overhang Model for Low-Income Countries: Implications for Debt Relief »

Source: A Debt Overhang Model for Low-Income Countries : Implications for Debt Relief

Volume/Issue: 2006/224

Series: IMF Working Papers

Author(s): Junko Koeda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2006

ISBN: 9781451864847

Keywords: Economic growth, Economic conditions, Debt relief, Debt burden, Economic models, Productivity, Foreign aid, debt overhang, participation constraint, low-income countries

The paper presents a theoretical model to explain how debt overhang is generated in low-income countries and discusses its implications for debt relief. The paper indicates that the extent of debt overhang, and the...

Debt Reduction and New Loans

Debt Reduction and New Loans »

Source: Debt Reduction and New Loans : A Contracting Perspective

Volume/Issue: 1997/95

Series: IMF Working Papers

Author(s): Aasim Husain , John Carlson , and Jeffrey Zimmerman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1997

ISBN: 9781451851786

Keywords: International Debt, Rescheduling, Forgiveness, debt, debt reduction, loans, debt relief, external debt

International debt contracts can incorporate—at least implicitly—contingencies governing debt reduction. This paper examines a series of debt contracts that allow for the possibility of rescheduling,...

Debt Relief and Adjustment Incentives

Debt Relief and Adjustment Incentives »

Source: Debt Relief and Adjustment Incentives : A Theoretical Exploration

Volume/Issue: 1988/36

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 April 1988

ISBN: 9781451977851

Keywords: debt relief, debt service, debtor country, debt service payments, debt service obligations

The purpose of this paper is to analyze the argument that debt relief would increase the incentive of a debtor country to make an adjustment effort (to invest) and that for this reason creditors may benefit by gran...

Debt Relief and Leveraged Buy-Outs

Debt Relief and Leveraged Buy-Outs »

Source: Debt Relief and Leveraged Buy-Outs

Volume/Issue: 1988/103

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 November 1988

ISBN: 9781451948004

Keywords: debt, creditors, debt relief, debtor country, interest

Analyses of debt relief that focus on the behavior of debtors and existing creditors understate the incentives for collective action by creditors. It is well known that debt relief could benefit existing creditors...

Debt Relief for Low-Income Countries and the HIPC Initiative

Debt Relief for Low-Income Countries and the HIPC Initiative »

Source: Debt Relief for Low-Income Countries and the HIPC Initiative

Volume/Issue: 1997/24

Series: IMF Working Papers

Author(s): Kamau Thugge , and Anthony Boote

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1997

ISBN: 9781451844108

Keywords: External Debt, Heavily Indebted Poor Countries Initiative, stock-of-debt operation, debt reduction, debt relief, present value

The paper describes the debt burden of low-income countries and the traditional mechanisms that have been implemented by the international community to alleviate this burden. While these mechanisms are sufficient t...

Debt Sustainability Analyses for Low-Income Countries: An Assessment of Projection Performance

Debt Sustainability Analyses for Low-Income Countries: An Assessment of Projection Performance »

Source: Debt Sustainability Analyses for Low-Income Countries: An Assessment of Projection Performance

Volume/Issue: 2017/220

Series: IMF Working Papers

Author(s): Henry Mooney , and Constance de Soyres

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 October 2017

ISBN: 9781484324790

Keywords: Balance of payments, Debt relief, IMF, Sovereign debt, World Bank, debt sustainability analysis (DSA), macroeconomic forecast, projection accuracy, projection bias, forecast error

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 f...