Series: IMF Working Papers
Author(s): Alfredo Cuevas , Maria Gonzalez , Arnoldo López-Marmolejo , and Davide Lombardo
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 August 2008
This paper explores how privatizing a pension system can affect sovereign credit risk. For this purpose, it analyzes the importance that rating agencies give to implicit pension debt (IPD) in their assessments of s...