TAILIEUCHUNG - DEBT SUSTAINABILITY FRAMEWORK FOR LOW INCOME COUNTRIES : POLICY AND RESOURCE IMPLICATIONS - Part 3

Unlike in the HIPC Initiative where a single indicator – debt to exports - was used the DSF paper selects three debt ratios to judge debt sustainability. Further, country policies and institutional capability and vulnerability to shocks are other factors identified as being important for assessing a country’s debt sustainability. In particular, country policies and institutional capability are used to grade countries and determine different debt ratio thresholds for them. | DEBT SUSTAINABILITY FRAMEWORK FOR LOW INCOME COUNTRIES POLICY AND RESOURCE IMPLICATIONS Paper submitted for the G-24 Technical Group Meeting Washington . September 27-28 2004 Part 3 Nihal Kappagoda Research Associate The North-South Institute Nancy C. Alexander Director Citizen s Network on Essential Services Debt Sustainability Framework 1. Unlike in the HIPC Initiative where a single indicator - debt to exports -was used the DSF paper selects three debt ratios to judge debt sustainability. Further country policies and institutional capability and vulnerability to shocks are other factors identified as being important for assessing a country s debt sustainability. In particular country policies and institutional capability are used to grade countries and determine different debt ratio thresholds for 2. As stated under the proposal debt sustainability will become a key factor for allocating grants under IDA 14. The international community has also made it a central concern in other multilateral development banks where replenishment negotiations are under way. Following Board approval of the broad principles of the framework paper the IDA paper2 developed the framework into a practical system for allocating grants under IDA 14 based on those aspects of the framework on which there has been international agreement and on which adequate research work has been done. It is necessary to reiterate that the principal objective of the framework is to assist low-income countries maintain sustainable debt levels and reduce the risk to IDA of debt problems in the countries in which IDA will provide a significant share of financing under IDA 14 and later. 1 These multiple factors were identified in the paper When is External Debt Sustainable by Aart Kray and Vikram Nehru Policy Research Working Paper 3200 The World Bank February 2004. 2 Ibid footnote 3. 3. The proposed grant allocation system in IDA 14 will be based on two pillars. The first is the debt distress .

TÀI LIỆU LIÊN QUAN
TỪ KHÓA LIÊN QUAN
TAILIEUCHUNG - Chia sẻ tài liệu không giới hạn
Địa chỉ : 444 Hoang Hoa Tham, Hanoi, Viet Nam
Website : tailieuchung.com
Email : tailieuchung20@gmail.com
Tailieuchung.com là thư viện tài liệu trực tuyến, nơi chia sẽ trao đổi hàng triệu tài liệu như luận văn đồ án, sách, giáo trình, đề thi.
Chúng tôi không chịu trách nhiệm liên quan đến các vấn đề bản quyền nội dung tài liệu được thành viên tự nguyện đăng tải lên, nếu phát hiện thấy tài liệu xấu hoặc tài liệu có bản quyền xin hãy email cho chúng tôi.
Đã phát hiện trình chặn quảng cáo AdBlock
Trang web này phụ thuộc vào doanh thu từ số lần hiển thị quảng cáo để tồn tại. Vui lòng tắt trình chặn quảng cáo của bạn hoặc tạm dừng tính năng chặn quảng cáo cho trang web này.