Review Of The Debt Sustainability Framework For Market Access Countries

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
ISBN 13 : 1513568329
Total Pages : 124 pages
Book Rating : 4.24/5 ( download)

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Download or read book Review of The Debt Sustainability Framework For Market Access Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2021-02-03 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498341845
Total Pages : 55 pages
Book Rating : 4.44/5 ( download)

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Download or read book Staff Guidance Note for Public Debt Sustainability Analysis in Market-Access Countries written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2013-05-06 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: The framework for fiscal policy and public debt sustainability analysis (DSA) in market-access countries (MACs) was reviewed by the Executive Board in August 2011.1 The review responded to shortcomings in identifying fiscal vulnerabilities and assessing risks to debt sustainability against the backdrop of increased concerns over fiscal policy and public debt sustainability in many advanced economies.

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 136 pages
Book Rating : 4.62/5 ( download)

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Download or read book Staff Guidance Note on the Sovereign Risk and Debt Sustainability Framework for Market Access Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2022-08-08 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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. Policy Development and Review Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498331416
Total Pages : 12 pages
Book Rating : 4.18/5 ( download)

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Download or read book Information Note on Modifications to the Fund's Debt Sustainability Assessment Framework for Market Access Countries written by International Monetary Fund. Policy Development and Review Dept. and published by International Monetary Fund. This book was released on 2005-01-07 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
ISBN 13 : 1498346359
Total Pages : 111 pages
Book Rating : 4.51/5 ( download)

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Download or read book Review of the Debt Sustainability Framework for Low Income Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2017-02-10 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Debt Sustainability Framework for Low-income Countries (LIC DSF) has been the cornerstone of assessments of risks to debt sustainability in LICs. The framework classifies countries based on their assessed debt-carrying capacity, estimates threshold levels for selected debt burden indicators, evaluates baseline projections and stress test scenarios relative to these thresholds, and then combines indicative rules and staff judgment to assign risk ratings of external debt distress. The framework has demonstrated its operational value since the last review was conducted in 2012, but there are areas where new features can be introduced to enhance its performance in assessing risks. Against the backdrop of the evolving nature of risks facing LICs, both staff analysis and stakeholder feedback suggest gaps in the framework to be addressed. Complexity and lack of transparency have also been highlighted as causes for concern. This paper proposes a set of reforms to enhance the value of the LIC DSF for all users. In developing these reforms, staff has been guided by two over-arching principles: a) the core architecture of the DSF—model-based results complemented by judgment—remains appropriate; and b) reforms should ensure that the DSF maintains an appropriate balance by providing countries with early warnings of potential debt distress without unnecessarily constraining their borrowing for development.

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498338631
Total Pages : 59 pages
Book Rating : 4.39/5 ( download)

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Download or read book Modernizing the Framework for Fiscal Policy and Public Debt Sustainability Analysis written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-05-08 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781498341028
Total Pages : 70 pages
Book Rating : 4.20/5 ( download)

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Download or read book Revisiting the Debt Sustainability Framework for Low-Income Countries written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2012-12-01 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduced in 2005, the joint IMF-World Bank Debt Sustainability Framework (DSF) is a standardized framework for conducting public and external debt sustainability analysis (DSA) in low-income countries (LICs). It aims to help guide the borrowing decisions of LICs, provide guidance for creditors‘ lending and grant allocation decisions, and improve World Bank and IMF assessments and policy advice. The framework was previously reviewed in 2006 and 2009. This paper provides a comprehensive review of the framework to assess whether it remains adequate in light of changing circumstances in LICs. It reviews the DSF‘s performance to date, presents the results of recent analytical work by IMF and World Banks staffs, and discusses a number of areas in which the framework could be improved.

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498335713
Total Pages : 48 pages
Book Rating : 4.13/5 ( download)

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Download or read book A Review of Some Aspects of the Low-Income Country Debt Sustainability Framework written by International Monetary Fund and published by International Monetary Fund. This book was released on 2009-05-08 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Bank-Fund Debt Sustainability Framework (DSF) is a standardized framework for analyzing debt-related vulnerabilities in low-income countries (LICs). It aims to help countries monitor their debt burden and take early preventive action, to provide guidance to creditors in ensuring their lending decisions are consistent with countries’ development goals, and to improve the Bank and Fund’s assessments and policy advice. The DSF was last reviewed in 2006, and a reconsideration of some aspects of the framework is timely.

Author : Mr.Henry Mooney
Publisher : International Monetary Fund
ISBN 13 : 1484326156
Total Pages : 48 pages
Book Rating : 4.52/5 ( download)

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Download or read book Debt Sustainability Analyses for Low-Income Countries: An Assessment of Projection Performance written by Mr.Henry Mooney and published by International Monetary Fund. This book was released on 2017-10-30 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops new error assessment methods to evaluate the performance of debt sustainability analyses (DSAs) for low-income countries (LICs) from 2005-2015. We find some evidence of a bias towards optimism for public and external debt projections, which was most appreciable for LICs with the highest incomes, prospects for market access, and at ‘moderate’ risk of debt distress. This was often driven by overly-ambitious fiscal and/or growth forecasts, and projected ‘residuals’. When we control for unanticipated shocks, we find that biases remain evident, driven in part by optimism regarding government fiscal reaction functions and expected growth dividends from investment.

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451821115
Total Pages : 12 pages
Book Rating : 4.16/5 ( download)

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Download or read book Kenya written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-01-08 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report of the Debt Sustainability Analysis (DSA) indicates that the envisaged strategy of a partial substitution of domestic debt by increased inflows of external grants and concessional loans, as well as a rescheduling of external debt by the Paris and London Clubs, would facilitate the achievement of debt sustainability. The DSA also confirms that such a debt rescheduling could constitute an appropriate exit strategy for Kenya. The DSA also shows that debt sustainability would improve significantly with a concessional rescheduling, particularly under the Naples terms.