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 …

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

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

, may serve Tanzania better. The "diamond rule" proposed in this paper incorporates a permanent hard ceiling on debt and …

This paper estimates bond-by-bond "haircuts"-realized investor losses-in recent debt restructurings in Russia, Ukraine …

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 …

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 …

. The paper develops a simple analytical framework and shows that highly concessional external debt is usually a superior … choice to domestic debt in terms of financial costs and risks, even in the face of a probable devaluation. The paper stresses … the importance of the availability and terms of financing, and of overall long-term debt sustainability. It concludes that …

variables in the aggregate balance sheet of a country and the balance sheets of its main sectors (assets and liabilities). It … problems in one sector can spill over into other sectors, eventually triggering an external balance of payments crisis. The …

support loans and, later on, tax and financial sector reforms. However, exchange rate, monetary and public sector wage …, complemented by, but without undue reliance on, monetary policy. The policies employed to reduce debt and to diversify the economic …