Debt Management : Now the Difficult Part

The first years of the 21st century were characterized by more prudent macroeconomic policies in the developing world, the positive impact of debt relief on low-income countries (LICs), and positive growth trends for the world economy, despite the...

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Bibliographic Details
Main Authors:	Gooptu, Sudarshan, Primo Braga, Carlos A.
Format:	Brief
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ADVANCED COUNTRIES ADVANCED ECONOMIES ASSET CLASSES ASSETS BALANCE SHEET BALANCE SHEETS BANKING CRISES BANKING SYSTEM BORROWING COSTS CAPITAL INJECTIONS CASH FLOWS COMMERCIAL LENDING COMPETITIVENESS CONTINGENT LIABILITIES COST OF CAPITAL CREDIBILITY CREDIT RISKS CREDITS DEBT DEBT ACCUMULATION DEBT CRISES DEBT CRISIS DEBT LEVELS DEBT MANAGEMENT DEBT MANAGEMENT PRACTICES DEBT MANAGEMENT STRATEGY DEBT MANAGERS DEBT OBLIGATIONS DEBT PORTFOLIOS DEBT POSITIONS DEBT RATIOS DEBT RELIEF DEBT SERVICE DEBT SUSTAINABILITY DEBT SUSTAINABILITY ANALYSES DEMOGRAPHIC DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPING MARKETS DOMESTIC DEBT ECONOMIC CRISIS ECONOMIC DYNAMISM ECONOMIC SLOWDOWN EMERGING ECONOMIES EXCHANGE RATE EXCHANGE RATE MISALIGNMENTS EXIT POLICIES EXIT STRATEGIES EXPORT GROWTH EXPORT INCOME EXPOSURE EXTERNAL DEBT EXTERNAL DEBTS EXTERNAL FINANCING FINANCIAL CRISIS FINANCIAL FLOWS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL POSITION FINANCIAL STRESS FINANCIAL SYSTEM FINANCING REQUIREMENTS FISCAL BALANCE FISCAL BALANCES FISCAL CONSOLIDATION FISCAL DEFICITS FISCAL IMBALANCES FISCAL POLICY FISCAL POSITIONS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RISK FOREIGN RELATIONS FUTURE PROSPECTS GLOBAL ECONOMY GLOBAL OUTPUT GLOBAL TRADE GLOBALIZATION GOVERNMENT DEBT GROSS DEBT GROSS DOMESTIC PRODUCT GROWTH RATES IMPACT OF DEBT IMPORT INCOME INDEBTED INDEBTED POOR COUNTRIES INTEREST RATES INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL INTEREST INTERNATIONAL INTEREST RATES ISSUANCE ISSUANCES LEVELS OF DEBT LIBERALIZATION LIBERALIZATIONS LOCAL CURRENCY LOCAL CURRENCY FINANCING LOCAL MARKETS LOW-INCOME COUNTRIES MACROECONOMIC POLICIES MACROECONOMIC POLICY MARKET TRENDS MATURITIES MIDDLE-INCOME COUNTRIES MONETARY AUTHORITIES MONETARY FUND PENSION POLICY RESPONSES POLITICAL CYCLES POLITICAL ECONOMY PORTFOLIOS POVERTY REDUCTION PUBLIC DEBT PUBLIC DEBT MARKETS PUBLIC DEBT STOCK PUBLIC DEBTS PUBLIC FINANCES PUBLIC SECTOR DEBT PUBLIC-PRIVATE PARTNERSHIPS RAPID EXPORT GROWTH REAL INTEREST REAL INTEREST RATES RECAPITALIZATION RECESSION REGULATORY REGIMES RESERVE RESERVE BANK RETURN RISK MANAGEMENT RISK-SHARING ARRANGEMENTS SHORT-TERM INTEREST RATES SOVEREIGN BALANCE SOVEREIGN DEBT SOVEREIGN DEBT CRISES SOVEREIGN GUARANTEES SPECULATIVE ATTACKS SURPLUS SUSTAINABILITY ANALYSES TAX TAX REVENUES TOTAL EXTERNAL DEBT TRADE POLICY TRADING TRADING PARTNERS UNCERTAINTIES VOLATILITY WORLD ECONOMY
Online Access:	http://documents.worldbank.org/curated/en/2010/07/12573311/debt-management-now-difficult-part http://hdl.handle.net/10986/10169

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Summary:	The first years of the 21st century were characterized by more prudent macroeconomic policies in the developing world, the positive impact of debt relief on low-income countries (LICs), and positive growth trends for the world economy, despite the puncturing of the high-tech "bubble" in Organization for Economic Co-operation and Development (OECD) countries. Until the eve of the financial crisis, many emerging economies were able to reduce the vulnerabilities of their debt portfolios and debt management was being carried out under favorable circumstances. Average maturities increased, reflecting increases in the maturities of new debt issuances, and rollover risks declined. Moreover, the increased availability of local currency financing, reflecting the development of domestic capital markets, and the globalization of the corporate sector in emerging economies underscored the changing landscape of development financing.

Debt Management : Now the Difficult Part

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