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Recent economic developments. Supported by a large policy package, Serbia's economy rebounded quickly from the initial COVID-19 shock, recording a 1 percent contraction of real GDP in 2020. Job losses have mostly been contained to the informal sector, thanks to policy measures aimed at...
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The Icelandic economy has been severely affected by the pandemic. Sharp tourism contraction and containment measures caused real GDP to plummet by 6.6 percent in 2020. A modest recovery will take hold in 2021. Recovery prospects in the tourism sector depend on control of the epidemic and...
Persistent link: https://www.econbiz.de/10012604433
In response to a request from the Government of Kenya, an AFRITAC East (AFE) government finance statistics (GFS … of the fiscal framework to Government Finance Statistics Manual 2014 (GFSM 2014) concepts to facilitate fiscal and debt … development aimed at supporting member countries to adopt the GFSM 2014 and the Public Sector Debt Statistics Guide (PSDSG 2011) …
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Contingent sovereign debt can create important welfare gains. Nonetheless, there is almost no issuance today. Using hand-collected archival data, we examine the first known case of large-scale use of state-contingent sovereign debt in history. Philip II of Spain entered into hundreds of...
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This article surveys the literature on sovereign debt sustainability from its origins in the mid-1980s to the present, focusing on four debates. First, the shift from an "accounting based" view of debt sustainability, evaluated using government borrowing rates, to a "model based" view which uses...
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