Debt in Low-Income Countries : Evolution, Implications, and Remedies
Debt vulnerabilities in low-income countries have increased substantially in recent years. Since 2013, median government debt has risen by about 20 percentage points of gross domestic product and increasingly comes from non-concessional and private...
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World Bank, Washington, DC
2019
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| Online Access: | http://documents.worldbank.org/curated/en/378031553539256399/Debt-in-Low-Income-Countries-Evolution-Implications-and-Remedies http://hdl.handle.net/10986/31453 |
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okr-10986-314532022-09-20T00:12:58Z Debt in Low-Income Countries : Evolution, Implications, and Remedies Essl, Sebastian Kilic Celik, Sinem Kirby, Patrick Proite, Andre DEBT LOW-INCOME COUNTRIES DEBT MANAGEMENT DEBT VULNERABILITIES NON-CONCESSIONAL DEBT FINANCIAL MARKETS INTEREST RATE Debt vulnerabilities in low-income countries have increased substantially in recent years. Since 2013, median government debt has risen by about 20 percentage points of gross domestic product and increasingly comes from non-concessional and private sources. As a result, in most low-income countries, interest payments are absorbing an increasing proportion of government revenues. The majority of low-income countries would be hard hit by a sudden weakening in trade or global financial conditions given high levels of external debt, lack of fiscal space, low foreign currency reserves, and undiversified exports. A proactive effort to identify and reduce debt-related vulnerabilities is a priority for many low-income countries. Policy makers should focus on mobilizing domestic resources, improving debt transparency, and strengthening debt management practices. These efforts should be complemented by measures to strengthen fiscal frameworks, improve the efficiency of public expenditures and public investment management, and develop domestic financial systems. 2019-03-27T15:24:58Z 2019-03-27T15:24:58Z 2019-03 Working Paper http://documents.worldbank.org/curated/en/378031553539256399/Debt-in-Low-Income-Countries-Evolution-Implications-and-Remedies http://hdl.handle.net/10986/31453 English Policy Research Working Paper;No. 8794 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
DEBT LOW-INCOME COUNTRIES DEBT MANAGEMENT DEBT VULNERABILITIES NON-CONCESSIONAL DEBT FINANCIAL MARKETS INTEREST RATE |
| spellingShingle |
DEBT LOW-INCOME COUNTRIES DEBT MANAGEMENT DEBT VULNERABILITIES NON-CONCESSIONAL DEBT FINANCIAL MARKETS INTEREST RATE Essl, Sebastian Kilic Celik, Sinem Kirby, Patrick Proite, Andre Debt in Low-Income Countries : Evolution, Implications, and Remedies |
| relation |
Policy Research Working Paper;No. 8794 |
| description |
Debt vulnerabilities in low-income
countries have increased substantially in recent years.
Since 2013, median government debt has risen by about 20
percentage points of gross domestic product and increasingly
comes from non-concessional and private sources. As a
result, in most low-income countries, interest payments are
absorbing an increasing proportion of government revenues.
The majority of low-income countries would be hard hit by a
sudden weakening in trade or global financial conditions
given high levels of external debt, lack of fiscal space,
low foreign currency reserves, and undiversified exports. A
proactive effort to identify and reduce debt-related
vulnerabilities is a priority for many low-income countries.
Policy makers should focus on mobilizing domestic resources,
improving debt transparency, and strengthening debt
management practices. These efforts should be complemented
by measures to strengthen fiscal frameworks, improve the
efficiency of public expenditures and public investment
management, and develop domestic financial systems. |
| format |
Working Paper |
| author |
Essl, Sebastian Kilic Celik, Sinem Kirby, Patrick Proite, Andre |
| author_facet |
Essl, Sebastian Kilic Celik, Sinem Kirby, Patrick Proite, Andre |
| author_sort |
Essl, Sebastian |
| title |
Debt in Low-Income Countries : Evolution, Implications, and Remedies |
| title_short |
Debt in Low-Income Countries : Evolution, Implications, and Remedies |
| title_full |
Debt in Low-Income Countries : Evolution, Implications, and Remedies |
| title_fullStr |
Debt in Low-Income Countries : Evolution, Implications, and Remedies |
| title_full_unstemmed |
Debt in Low-Income Countries : Evolution, Implications, and Remedies |
| title_sort |
debt in low-income countries : evolution, implications, and remedies |
| publisher |
World Bank, Washington, DC |
| publishDate |
2019 |
| url |
http://documents.worldbank.org/curated/en/378031553539256399/Debt-in-Low-Income-Countries-Evolution-Implications-and-Remedies http://hdl.handle.net/10986/31453 |
| _version_ |
1764474365797203968 |