Guidance Note on the Fund’s Transparency Policy

Policy Papers ◽  
2010 ◽  
Vol 2010 (2) ◽  
Author(s):  
Keyword(s):  
Financial Crisis ◽  
Low Income ◽  
Public Debt ◽  
Global Financial Crisis ◽  
Low Income Countries ◽  
Debt Sustainability ◽  
Guidance Note ◽  
Fiscal Revenue ◽  
Near Term ◽  
The Global Financial Crisis

The global financial crisis has had a significant impact on low-income countries (LICs)’ debt vulnerabilities. Recent debt sustainability analyses (DSAs) indicate that external and fiscal financing requirements have increased. In addition, standard measures of a country’s capacity to repay debt?GDP, exports, and fiscal revenue?are expected to be permanently lower. On average, debt ratios are therefore expected to deteriorate in the near term, particularly for public debt.

Guidance Note for Fund Staff on the Treatment and Use of SDR Allocations

Policy Papers ◽  
2009 ◽  
Vol 09 ◽  
Author(s):  
Keyword(s):  
Developing Countries ◽  
Financial Crisis ◽  
Low Income ◽  
Global Financial Crisis ◽  
Emerging Market ◽  
Low Income Countries ◽  
Guidance Note ◽  
Special Drawing ◽  
The Global Financial Crisis ◽  
Special Drawing Rights

Against the backdrop of the global financial crisis, the IMF has decided to implement a US$250 billion general allocation of special drawing rights (SDRs). In addition, the Fourth Amendment of the Fund’s Articles of Agreement has recently become effective, and will make available to SDR Department participants a special allocation of up to an additional SDR 21.5 billion (US$33 billion). Nearly US$115 billion of these combined allocations will go to emerging market and developing countries, including about US$20 billion to low-income countries (LICs), thereby providing an important boost to the reserves of countries with the greatest needs.

Public Debt Vulnerabilities in Low-Income Countries - The Evolving Landscape

Policy Papers ◽  
2015 ◽  
Vol 15 (59) ◽  
Author(s):  
Keyword(s):  
Low Income ◽  
Public Debt ◽  
Global Financial Crisis ◽  
Low Income Countries ◽  
International Capital ◽  
International Capital Markets ◽  
Underlying Causes ◽  
The Global Financial Crisis ◽  
Sustainability Framework ◽  
Paris Club

This is the first joint IMF/World Bank report on public debt vulnerabilities in low income countries (LICs). It examines debt-related developments and their underlying causes since the onset of the global financial crisis. The findings will inform the upcoming review of the IMF/WB debt sustainability framework for LICs. Over this period, improved macroeconomic performance in LICs, combined with HIPC/MDRI debt relief and high demand for commodities, contributed to improved LIC creditworthiness. At the same time, new borrowing opportunities emerged as a result of the accommodative liquidity conditions in international capital markets, the deepening of domestic financial markets for some LICs, and the growing lending activities of non-Paris Club countries. These new financing possibilities helped mitigate the decline in Paris Club lending to LICs and have been associated with a shift toward greater reliance on non-concessional credit. The changing financing landscape has been most significant for frontier LICs.

The Implications of the Global Financial Crisis for Low-Income Countries—An Update

Policy Papers ◽  
2009 ◽  
Vol 09 ◽  
Author(s):  
Keyword(s):  
Financial Crisis ◽  
Low Income ◽  
Global Financial Crisis ◽  
Low Income Countries ◽  
Medium Term ◽  
Fdi Inflows ◽  
Donor Support ◽  
World Demand ◽  
The Global Financial Crisis ◽  
Do So

Low-income countries are being hit hard by the global financial crisis. They are facing a sharp contraction in export growth, FDI inflows, and remittances, and lower-than-committed aid. But a marked recovery is in prospect for 2010 helped by rising world demand and supported by short-term domestic policies. Countries are using fiscal and other policies to respond to the crisis and should continue to do so, where appropriate, until the economic recovery is clearly underway. However, the risks to debt sustainability are rising and countries should begin preparing to realign policies toward medium-term sustainability once the recovery is clearly on the move. Additional highly concessional donor support is needed to ensure that countries are not forced to make these adjustments prematurely, and to facilitate a smooth return to a sustainable debt path, with strong growth, over the medium term.

Review of Facilities for Low-Income Countries

Policy Papers ◽  
2012 ◽  
Vol 2012 (58) ◽  
pp. 1
Author(s):  
Keyword(s):  
Financial Crisis ◽  
Low Income ◽  
Global Financial Crisis ◽  
Low Income Countries ◽  
Effective Response ◽  
The Global Financial Crisis

The 2009 reforms have broadly achieved their objective of closing gaps and creating a streamlined architecture of facilities that is better tailored to the diverse needs of LICs. Supported by the financing package to boost the PRGT’s lending capacity for 2009–14 and the accompanying doubling of access, the Fund was able to mount an effective response to LICs’ needs during the global financial crisis.

scholarly journals Global Shocks and Their Impact on Low-Income Countries: Lessons from the global Financial Crisis

2011 ◽  
Author(s):  
Andrew Berg ◽  
Chris Papageorgiou ◽  
Catherine A. Pattillo ◽  
Martin Schindler ◽  
Nikola Spatafora ◽  
...  
Keyword(s):  
Financial Crisis ◽  
Low Income ◽  
Global Financial Crisis ◽  
Low Income Countries ◽  
Global Shocks ◽  
The Global Financial Crisis

Staff Guidance Note on the Application of the Joint Fund-Bank Debt Sustainability Framework for Low-Income Countries

Policy Papers ◽  
2008 ◽  
Vol 2008 (3) ◽  
Author(s):  
Keyword(s):  
Low Income ◽  
Debt Relief ◽  
Low Income Countries ◽  
Bank Debt ◽  
Debt Sustainability ◽  
Poor Countries ◽  
Guidance Note ◽  
Heavily Indebted Poor Countries ◽  
Alternative Scenarios ◽  
Sustainability Framework

The objective of the joint Fund-Bank debt sustainability framework for low-income countries is to support LICs in their efforts to achieve their development goals without creating future debt problems. Countries that have received debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI) need to be kept on a sustainable track. Under the framework, country DSAs are prepared jointly by Bank and Fund staff, with close collaboration between the two staffs on the design of the macroeconomic baseline, alternative scenarios, the debt distress rating, and the drafting of the write-up.

scholarly journals THE BEHAVIOR OF U.S. PUBLIC DEBT AND DEFICITS DURING THE GLOBAL FINANCIAL CRISIS

2016 ◽  
Vol 35 (1) ◽  
pp. 201-215 ◽  
Author(s):  
Thanh Dat Nguyen ◽  
Sandy Suardi ◽  
Chew Lian Chua
Keyword(s):  
Financial Crisis ◽  
Public Debt ◽  
Global Financial Crisis ◽  
The Global Financial Crisis
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