current phase of the official policy approach is predicated on the assumption that debt sustainability can be achieved through … toolkit of emerging markets, including debt restructurings and conversions, higher inflation, capital controls and other forms … economies, where debt restructuring or conversions, financial Repression, and a tolerance for higher inflation, or a combination …

VAR (SVAR) using pre-crisis data. Our new method freely estimates the contemporaneous correlation matrix for underlying …

implementation of more structural reforms to meet the challenges. A sensitivity analysis of the C.A.R.’s projected external debt … assistance on favorable terms to avoid the risk of renewed debt distress. …

Indebted Poor Countries (HIPC) and debt relief under the Multilateral Debt Relief Initiative (MDRI). In the view of … enhanced HIPC Initiative, CAR will also qualify for additional debt relief under the MDRI. …

Do Highly Indebted Poor Countries (HIPCs) suffer from a debt overhang? Is debt relief going to improve their growth … rates? To answer these important questions, we look at how the debt-growth relationship varies with indebtedness levels and … relationship between debt and growth at intermediate levels of debt, but not at very low debt levels, below the “debt overhang …

recent years and resulted in a marked increase in public sector debt. Efforts in the region have focused on strengthening the …

a balance between reducing public debt and increasing priority expenditure. Progress in structural reform has been …