Debt Management: Now the Difficult Part
AbstractThe first years of the 21st century were characterized by more prudent macroeconomic policies in the developing world, the positive impact of debt relief on low-income countries (LICs), and positive growth trends for the world economy, despite the puncturing of the high-tech “bubble” in OECD countries. Until the eve of the financial crisis, many emerging economies were able to reduce the vulnerabilities of their debt portfolios and debt management was being carried out under favorable circumstances. Average maturities increased, reflecting increases in the maturities of new debt issuances, and rollover risks declined. Moreover, the increased availability of local currency financing, reflecting the development of domestic capital markets, and the globalization of the corporate sector in emerging economies underscored the changing landscape of development financing.
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Bibliographic InfoArticle provided by The World Bank in its journal Economic Premise.
Volume (Year): (2010)
Issue (Month): 23 (July)
debt; management; macroeconomic; debt relief; developing countries; low-income countries; bubble; portfolio; risks; maturities; financing;
Find related papers by JEL classification:
- H6 - Public Economics - - National Budget, Deficit, and Debt
- H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
- H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents
- F34 - International Economics - - International Finance - - - International Lending and Debt Problems
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