Chahine, Salim; Panizza, Ugo; Suedekum, Guilherme - 2024
around an IMF arrangement. By comparing bonds issued immediately before the inset of the program with bonds issued … immediately after the program, we show that, on average, the approval of the program leads to a 72-basis points reduction in … borrowing costs and program size matters. Our point estimates indicate that when program size increases by one percent of GDP …