In this note, the authors reexamine the issue of debt sustainability in a large group of advanced economies. Their hypothesis is that, when debt is in a moderate range, its dynamics are sustainable in the sense that increases in debt elicit sufficient increases in primary fiscal balances to...

The subject of this paper is four Balkan countries (Albania, Serbia, Macedonia, and Montenegro) that are determined to join the European Union. More particularly, it looks at their work towards accomplishing the political, legal and economic requirements for the EU. Thus, the legislation with...

Ghana has a lengthy history of accumulating public debt, primarily driven by the expansion of fiscal deficits. This has resulted in a persistent increase in the public debt ratio, as the country borrowed both externally and internally to stimulate economic growth and augment its capital stock....