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La dette des économies en transition : évolution et marche à suivre

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  • Willem Buiter
  • Ricardo Lago

Abstract

[fre] Depuis le début de la transition, les pays de l’Est ont connu de nombreux développements en matière de dette. Le présent article suit les principaux développements de l’endettement des pays de la région et montre les changements radicaux qui ont marqué le poids de la dette dans ces pays. Si certains, fortement endettés au début de la transition, ont réduit le fardeau de leur dette, d’autres qui avaient commencé dans de bonnes conditions ont accumulé l’endettement à un point probablement insoutenable. L’article insiste tout particulièrement sur la question de la soutenabilité de la dette publique et extérieure, de l’accumulation des dettes entre les pays de la CEI et de la crise qui a touché les paiements des importations d’énergie. Enfin, le document suggère quelques approches en matière de restructuration de l’endettement des pays de la CEI, dont différents types d’échanges de dette. . Classification JEL : P20, P35 [eng] Debt in Transition Economies : Where is it Heading, What Can be Done About it ? . Since the start of the transition, the countries of central-eastern Europe and the Baltic States, South-Eastern Europe and the CIS have experienced a wide variety of debt developments. The paper traces the main developments in the indebtedness of the countries in the region and shows how the debt burdens of countries have changed dramatically. While some countries that were heavily indebted at the beginning of the transition have reduced their debt burdens, others that started off debt-free have accumulated debt to such an extent that it may now be unsustainable. The paper places special emphasis on the issue of external and public debt sustainability and the build-up of debt between CIS countries and the related energy payments crisis. The article concludes with some possible approaches to debt workouts for CIS countries, including several types of debt swaps. . JEL classifications : P20, P35

Suggested Citation

  • Willem Buiter & Ricardo Lago, 2001. "La dette des économies en transition : évolution et marche à suivre," Revue d'Économie Financière, Programme National Persée, vol. 6(1), pages 207-231.
  • Handle: RePEc:prs:recofi:ecofi_0987-3368_2001_hos_6_1_3908
    DOI: 10.3406/ecofi.2001.3908
    Note: DOI:10.3406/ecofi.2001.3908
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • P20 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - General
    • P35 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Public Finance
    • P20 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - General
    • P35 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Public Finance

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