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Reducing high public debts is key for countries seeking to restore fiscal capacity and resilience in the wake of recent … crises. But large debt reductions are rare. Jamaica stands out for reducing its debt from 144 percent of GDP to 72 percent … over the last decade, a record achieved by running large, persistent primary budget surpluses. Well-designed fiscal rules …
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The 2007 Report on Economic and Social Progress in Latin America analyzes the nature and evolution of sovereign debt in Latin America and discusses the policies that can be followed by countries and international financial institutions (IFIs) to reduce the vulnerabilities associated with it....
Persistent link: https://www.econbiz.de/10010895455
The 2007 Report on Economic and Social Progress in Latin America analyzes the nature and evolution of sovereign debt in Latin America and discusses the policies that can be followed by countries and international financial institutions (IFIs) to reduce the vulnerabilities associated with it....
Persistent link: https://www.econbiz.de/10010943404
Persistent link: https://www.econbiz.de/10012423670
Spreads on sovereign bonds are at an all-time low, at least since the current era of emerging economy bond markets began in the 1990s. This paper examines the current state of the international and domestic bond markets and asks whether the current favorable trends will constitute a durable...
Persistent link: https://www.econbiz.de/10010944558
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The accumulation of international reserves by emerging markets raises the question of how to best utilize these funds. This paper explores two routes through which the pooling of reserves could enhance stability and welfare. First, the reserve pool could be used for emergency lending in response...
Persistent link: https://www.econbiz.de/10012760717