TAILIEUCHUNG - How to do a Debt Sustainability Analysis for Low-Income Countries

The first type of event is similar to a credit rating action, . it relates to an individual country. The informed public or other market participants are often able to anticipate the decision or action taken. Thus, at the date of the decision or action hardly any new information regarding the country itself may be revealed. After it has been taken, however, it is assumed to have a more lasting impact on the pricing of bonds issued by the agent. In contrast, the second type of events, such as the communication by the Commission, may not have been known in advance since it is not part. | How to do a Debt Sustainability Analysis for Low-Income Countries October 2006 Contents I. II. Basic Concepts of a DSA for Low-Income A. When is public debt sustainable in LICs .3 B. Basic Steps for Undertaking a C. Debt Measures used in the LIC D. The Concessionality of E. Debt Burden F. Indicative Debt Burden G. Classifying a Country s Risk of Debt H. Operational III. The LIC External DS A. Basic B. Data 1. Basic 2. Calculation of NPV of 3. New Borrowing C. The Evolution of External D. The Output 1. 2. Sensitivity IV. Summary and Annex I Key Creditors and Terms of their Annex II Evolution of External References. 35 A Guide to LIC Debt Sustainability Analysis I. Introduction Under the World Bank - Fund Debt Sustainability Framework a debt sustainability analysis DSA should be prepared annually for all IDA-only PRGF eligible countries jointly with the The objective of the framework is to support low-income countries in their efforts to achieve the Millennium Development Goals MDGs without creating future debt problems and to keep countries that have received debt relief under the HIPC Initiative on a sustainable track. In order to assess whether a country s current borrowing strategy may lead to future debt-servicing difficulties any LIC country team is required to conduct a DSA in close collaboration with the IMF using the two common agreed LIC templates. As a result of this DSA a country would be classified according to its risk of debt distress. This classification would be used to determined the share of grants and loans in IDA s assistance to the This guide provides the necessary information for conducting a DSA and explains the use of the two LIC templates. It describes the basic relevant .

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