Restructuring Indonesia's Sub-national Public Debt: Reform or Reversion?

Borrowing can be an efficient way for sub-national governments to acquire capital assets, but it also carries risks of fiscal distress and insolvency for borrowers. To minimise these risks, many governments around the world have developed ex-post insolvency remedies, including, most importantly, deb...

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Main Authors:	Lewis, Blane, Woodward, David
Format:	Journal Article
Language:	EN
Published:	2012
Subjects:	National Debt Debt Management Sovereign Debt H630 State and Local Borrowing H740 State and Local Government: Other Expenditure Categories H760 Economic Development: Regional, Urban, and Rural Analyses Transportation O180 Project Analysis O220
Online Access:	http://hdl.handle.net/10986/4686

id	okr-10986-4686
recordtype	oai_dc
spelling	okr-10986-46862021-04-23T14:02:19Z Restructuring Indonesia's Sub-national Public Debt: Reform or Reversion? Lewis, Blane Woodward, David National Debt Debt Management Sovereign Debt H630 State and Local Borrowing H740 State and Local Government: Other Expenditure Categories H760 Economic Development: Regional, Urban, and Rural Analyses Transportation O180 Project Analysis O220 Borrowing can be an efficient way for sub-national governments to acquire capital assets, but it also carries risks of fiscal distress and insolvency for borrowers. To minimise these risks, many governments around the world have developed ex-post insolvency remedies, including, most importantly, debt-restructuring mechanisms. In an effort to resurrect borrowing for local infrastructure development, the Indonesian government has designed and begun to implement debt-restructuring programs for sub-national government and sub-national government-owned water supply company defaulters. These programs constitute a major effort to reform an important, long-neglected and problematic aspect of sub-national public finances in Indonesia. There are a number of potential difficulties with the design and execution of the reforms, however, which collectively do not inspire much optimism for rapid progress in reviving financial flows to the sub-national public sector. Still, even halting advances in debt restructuring can substantially increase local infrastructure investment in the long run. 2012-03-30T07:29:14Z 2012-03-30T07:29:14Z 2010 Journal Article Bulletin of Indonesian Economic Studies 00074918 http://hdl.handle.net/10986/4686 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article Indonesia
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	EN
topic	National Debt Debt Management Sovereign Debt H630 State and Local Borrowing H740 State and Local Government: Other Expenditure Categories H760 Economic Development: Regional, Urban, and Rural Analyses Transportation O180 Project Analysis O220
spellingShingle	National Debt Debt Management Sovereign Debt H630 State and Local Borrowing H740 State and Local Government: Other Expenditure Categories H760 Economic Development: Regional, Urban, and Rural Analyses Transportation O180 Project Analysis O220 Lewis, Blane Woodward, David Restructuring Indonesia's Sub-national Public Debt: Reform or Reversion?
geographic_facet	Indonesia
relation	http://creativecommons.org/licenses/by-nc-nd/3.0/igo
description	Borrowing can be an efficient way for sub-national governments to acquire capital assets, but it also carries risks of fiscal distress and insolvency for borrowers. To minimise these risks, many governments around the world have developed ex-post insolvency remedies, including, most importantly, debt-restructuring mechanisms. In an effort to resurrect borrowing for local infrastructure development, the Indonesian government has designed and begun to implement debt-restructuring programs for sub-national government and sub-national government-owned water supply company defaulters. These programs constitute a major effort to reform an important, long-neglected and problematic aspect of sub-national public finances in Indonesia. There are a number of potential difficulties with the design and execution of the reforms, however, which collectively do not inspire much optimism for rapid progress in reviving financial flows to the sub-national public sector. Still, even halting advances in debt restructuring can substantially increase local infrastructure investment in the long run.
format	Journal Article
author	Lewis, Blane Woodward, David
author_facet	Lewis, Blane Woodward, David
author_sort	Lewis, Blane
title	Restructuring Indonesia's Sub-national Public Debt: Reform or Reversion?
title_short	Restructuring Indonesia's Sub-national Public Debt: Reform or Reversion?
title_full	Restructuring Indonesia's Sub-national Public Debt: Reform or Reversion?
title_fullStr	Restructuring Indonesia's Sub-national Public Debt: Reform or Reversion?
title_full_unstemmed	Restructuring Indonesia's Sub-national Public Debt: Reform or Reversion?
title_sort	restructuring indonesia's sub-national public debt: reform or reversion?
publishDate	2012
url	http://hdl.handle.net/10986/4686
_version_	1764392395298832384

Restructuring Indonesia's Sub-national Public Debt: Reform or Reversion?

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