Author : International Monetary Fund. Policy Development and Review Dept.
Publisher : International Monetary Fund
Page : 12 pages
File Size : 12,68 MB
Release : 2005-01-07
Category : Business & Economics
ISBN : 1498331416
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Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 124 pages
File Size : 25,60 MB
Release : 2021-02-03
Category : Business & Economics
ISBN : 1513568329
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.
Author : Angélique Herzberg
Publisher : Springer
Page : 336 pages
File Size : 44,59 MB
Release : 2014-08-28
Category : Political Science
ISBN : 3658070919
Since the mid-1990s, sustainability of large and persistent current account positions have been attracting much attention from policy makers and economists alike. Alongside global imbalances, sustainability of imbalances within the euro area, which started widening shortly after the introduction of the euro, raised much concern. While there exists a large body of theoretical and empirical literature on sustainability of external imbalances, a systematic survey has been lacking so far. Angélique Herzberg fills this gap by examining a broad range of established sustainability measures concerning their applicability to the various global and intra-euro imbalances of the recent past. Furthermore, the author examines the existence of feedback effects from an economy ́s net international investment position to its trade balance.
Author : Mr.Udaibir S. Das
Publisher : International Monetary Fund
Page : 128 pages
File Size : 32,61 MB
Release : 2012-08-01
Category : Business & Economics
ISBN : 1475505531
This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950–2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt agreements with the Paris Club. We present new stylized facts on the outcome and process of debt restructurings, including on the size of haircuts, creditor participation, and legal aspects. In addition, the paper summarizes the relevant empirical literature, analyzes recent restructuring episodes, and discusses ongoing debates on crisis resolution mechanisms, credit default swaps, and the role of collective action clauses.
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 59 pages
File Size : 21,79 MB
Release : 2011-05-08
Category : Business & Economics
ISBN : 1498338631
Modernizing the framework for fiscal policy and public debt sustainability analysis (DSA) has become necessary, particularly in light of the recent crisis and rising sustainability concerns in some advanced economies. While recognizing the inherently challenging nature of such analysis, this paper highlights areas where improvements are needed and makes both general and specific proposals on how this could be achieved. It also proposes to move to a risk-based approach to DSAs for all market-access countries, where the depth and extent of analysis would be commensurate with concerns regarding sustainability, while a reasonable level of standardization would be maintained.
Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 136 pages
File Size : 10,58 MB
Release : 2022-08-08
Category : Business & Economics
ISBN :
This note provides operational guidance for the use of the Sovereign Risk and Debt Sustainability Framework (SRDSF), which replaces the Debt Sustainability Framework for Market Access Countries. The SRDSF introduces improvements in organization, methodology, transparency, and communication when analyzing public debt issues in countries that mainly finance themselves with market-based debt. After its phased adoption beginning [June 2022], it will become the Fund’s principal tool for assessing public debt sustainability.
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 112 pages
File Size : 33,79 MB
Release : 2014-05-23
Category : Business & Economics
ISBN : 1498343333
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Author : International Monetary Fund. Policy Development and Review Dept.
Publisher : International Monetary Fund
Page : 11 pages
File Size : 37,4 MB
Release : 2005-09-11
Category : Business & Economics
ISBN : 1498330835
This note examines whether projections made in the context of a Fund-supported program are systematically more optimistic than those done for surveillance cases. Of particular interest in this regard is the assessment of external debt sustainability, as this underlies the "capacity to repay the Fund" analysis. Accordingly, this note examines debt projections over the period 1990-2004, with data for transition countries beginning in 1995.
Author : Thordur Jonasson
Publisher : International Monetary Fund
Page : 133 pages
File Size : 36,38 MB
Release : 2018-04-06
Category : Business & Economics
ISBN : 1484351819
This paper provides an overview of sovereign debt portfolio risks and discusses various liability management operations (LMOs) and instruments used by public debt managers to mitigate these risks. Debt management strategies analyzed in the context of helping reach debt portfolio targets and attain desired portfolio structures. Also, the paper outlines how LMOs could be integrated into a debt management strategy and serve as policy tools to reduce potential debt portfolio vulnerabilities. Further, the paper presents operational issues faced by debt managers, including the need to develop a risk management framework, interactions of debt management with fiscal policy, monetary policy, and financial stability, as well as efficient government bond markets.
Author :
Publisher :
Page : 58 pages
File Size : 11,67 MB
Release : 2009
Category : Fiscal policy
ISBN :
