This paper provides updated information on the external debt problem of sub-Saharan Africa. Between 1980 and 1990 the … region’s external debt more than tripled, to US$171 billion, while debt service payments and rescheduling rose by more than … 150 percent to US$20 billion. In addition, the region continues to qualify as severely debt-distressed. During the last …

debt relief and large positive net resource flows to HIPCs. It argues that, by substantially reducing HIPCs’ debt stocks … and debt service payments, the Initiative provides a solid basis for debt sustainability and room for increased social … themselves. Thus, debt relief and official development assistance are critical as “help for self-help.” …

. Private sector creditors and the IFI offer different debt contracts that are modelled based on the institutional frameworks of … these two types of debt. We analyze the decisions of a sovereign on how to allocate its borrowing needs between these two … types of creditors, and when to default on its debt to the private sector creditor. The numerical analysis shows that …

This paper-consisting of a regional study and seven country studies-reviews the state of domestic public debt markets … account for the lion's share of capital markets, regional public debt markets remain underdeveloped for a variety of reasons … and composition of debt (with sizeable nonstandard and non-tradable components), fragmentation of public debt between …

across major regions, countries with differing commodity export composition, and countries with differing debt relief status …

States (CIS) accumulated substantial external debt in a short time span, about half of which is owed to multilateral … financial institutions. Three factors contributed to the current debt burden. First, the initial years of transition brought … consequently, growth revival, took longer than expected. Third, overoptimism by multilaterals contributed to the high debt levels …

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 …

relevant to the debate on Sovereign Debt Restructuring. It highlights four components common to most bankruptcy reorganization … institutions: a stay on debt collection efforts to prevent a costly run for the assets, broad enforcement of absolute priority … while its liabilities are restructured. The paper argues that these components ought to be present in any sovereign debt …

Improving debt management capacity in Heavily Indebted Poor Countries (HIPCs) is a key element of the international … community’s strategy for ensuring a robust and sustained exit from unsustainable debt burdens. External debt management is a … multi-facetted task involving the formulation of a transparent strategy for managing the level of debt, and establishing an …

over the period from 1948 through 2008. We find that, with the introduction of the euro, trade imbalances among euro area … tends to be more balanced when nominal exchange rates are flexible. Intra-euro area imbalances also seem to have become more … persistent with the introduction of the euro, some of which is linked to labor market inflexibility. Reviewing the direction of …