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Debt Management: Now the Difficult Part


  • Gooptu, Sudarshan

    () (World Bank)

  • Braga, Carlos

    () (World Bank)


The 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.

Suggested Citation

  • Gooptu, Sudarshan & Braga, Carlos, 2010. "Debt Management: Now the Difficult Part," World Bank - Economic Premise, The World Bank, issue 23, pages 1-5, July.
  • Handle: RePEc:wbk:prmecp:ep23

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    References listed on IDEAS

    1. Pierre-Richard Agénor, 2015. "Public capital, health persistence and poverty traps," Journal of Economics, Springer, vol. 115(2), pages 103-131, June.
    2. Pierre-Richard AGENOR & Otaviano CANUTO, 2012. "Access to Infrastructure and Women’s Time Allocation: Evidence and a Framework for Policy Analysis," Working Papers P45, FERDI.
    3. Blackden, Mark & Canagarajah, Sudharshan & Klasen, Stephan & Lawson, David, 2006. "Gender and Growth in Sub-Saharan Africa: Issues and Evidence," WIDER Working Paper Series 037, World Institute for Development Economic Research (UNU-WIDER).
    4. Era Dabla-Norris & Jim Brumby & Annette Kyobe & Zac Mills & Chris Papageorgiou, 2012. "Investing in public investment: an index of public investment efficiency," Journal of Economic Growth, Springer, vol. 17(3), pages 235-266, September.
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    More about this item


    debt; management; macroeconomic; debt relief; developing countries; low-income countries; bubble; portfolio; risks; maturities; financing;

    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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