an external debt overhang. A simple taxation scheme is specified and it is shown that a country can be on the “wrong side …” of its debt Laffer curve only if it is on the wrong side of its tax Laffer curve. The analysis indicates that fairly … disincentives associated with the debt overhang are large enough to place a country on the wrong side of its debt Laffer curve. …

The effects of debt relief on incentives to accumulate debt, consume, and invest are an important concern for donors … requirement and an endogenous relief probability, we show that excessive debt accumulation is consistent with an anticipation of a … future debt relief. Simulations of the calibrated model using 1982-2006 Ugandan data suggest that debt-relief episodes are …

Seychelles's strong stabilization efforts has helped the economy to overcome debt crisis and global recession under the …

Seychelles's economy has recovered strongly from the debt crisis and global recession, owing to high foreign direct … reserves and reduce public debt. In 2011, the policy mix under the economic program supported by the Extended Fund Facility has …

government needs to accelerate Mortgage and Land Bank’s restructuring and facilitate market-based debt resolution. Program …

Seychelles’s fiscal stance for 2012 allows maintaining a steady course toward debt reduction. The authorities⠅

This paper assesses the non linear impact of external debt on growth using a large panel data set of 93 developing … different debt indicators. For a country with average indebtedness, doubling the debt ratio would reduce annual per capita … percent per annum. For countries that are to benefit from debt reduction under the current HIPC initiative, per capita growth …

This paper develops a simple model of foreign debt portfolio management. The model suggests that, under mild conditions …, the currency composition of a country's foreign debt portfolio is responsive to exchange rate movements. Empirical … analysis show that foreign debt portfolio management has been sub-optimal in the countries under examination. In these …