Against the backdrop of tightening global financing conditions in 2022, emerging and developing countries need to swiftly address a two-pronged policy objective: sovereign debt sustainability and being able to fund investment, especially investment with high economic and social returns. With the...

We introduce a new suite of macroeconomic models that extend and complement the Debt, Investment, and Growth (DIG) model widely used at the IMF since 2012. The new DIG-Labor models feature segmented labor markets, efficiency wages and open unemployment, and an informal non-agricultural sector....

Fortschritte bei der Armutsbekämpfung sind in Bolivien seit Beginn der Reformen eher bescheiden geblieben, wenn man die erzielten Stabilisierungs- und Wachstumserfolge als Referenz zugrunde legt; sie sind sogar enttäuschend, wenn man sie an den Zielen der Armutsreduzierungsstrategie misst. Die...

In this paper the authors recall the history of Jubilee debt cancellations, emphasizing what their social purpose was at that time. They note that it would not be possible to copy that procedure exactly nowadays, primarily because most debt/credit relationships are intermediated via financial...