Somalia - Joint World Bank-IMF Debt Sustainability Analysis

This report presents the first official debt sustainability analysis undertaken for Somalia. Based on both external and public debt indicators, Somalia is in debt distress. Total public debt is very high, at dollar 4.8 billion, or 101 percent of GD...

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Main Authors:	World Bank, International Monetary Fund
Format:	Report
Language:	English
Published:	World Bank, Washington, DC 2019
Subjects:	DEBT DISTRESS DEBT SERVICE BURDEN PUBLIC SECTOR DEBT PUBLIC AND PUBLICLY GUARANTEED DEBT CONTINGENT LIABILITY EXTERNAL DEBT ARREARS SUSTAINABILITY ANALYSIS RISK ASSESSMENT MACROECONOMIC PROJECTION FRAGILE STATES
Online Access:	http://documents.worldbank.org/curated/en/678011570772436350/Somalia-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-August-2019 http://hdl.handle.net/10986/32582

id	okr-10986-32582
recordtype	oai_dc
spelling	okr-10986-325822021-05-25T09:28:40Z Somalia - Joint World Bank-IMF Debt Sustainability Analysis World Bank International Monetary Fund DEBT DISTRESS DEBT SERVICE BURDEN PUBLIC SECTOR DEBT PUBLIC AND PUBLICLY GUARANTEED DEBT CONTINGENT LIABILITY EXTERNAL DEBT ARREARS SUSTAINABILITY ANALYSIS RISK ASSESSMENT MACROECONOMIC PROJECTION FRAGILE STATES This report presents the first official debt sustainability analysis undertaken for Somalia. Based on both external and public debt indicators, Somalia is in debt distress. Total public debt is very high, at dollar 4.8 billion, or 101 percent of GDP at end-2018—nearly all of which is external (100 percent of GDP). The finding that Somalia is in debt distress reflects the high external arrears on debt relative to GDP, which now represent 96 percent of the debt stock. While Somalia has no capacity to access new financing, its debt burden will continue to increase as late interest on arrears continues to accumulate. Under broadly steady state assumptions, Somalia’s total public debt is expected to increase to around 128 percent of GDP by 2039. Key risks that affect the outlook include external financing, security, and climate, further highlighting the unsustainability of Somalia’s current debt burden. Consequently, in the absence of debt relief, Somalia will remain in debt distress. 2019-10-18T14:19:50Z 2019-10-18T14:19:50Z 2019-08 Report http://documents.worldbank.org/curated/en/678011570772436350/Somalia-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-August-2019 http://hdl.handle.net/10986/32582 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Debt and Creditworthiness Study Africa Somalia
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	DEBT DISTRESS DEBT SERVICE BURDEN PUBLIC SECTOR DEBT PUBLIC AND PUBLICLY GUARANTEED DEBT CONTINGENT LIABILITY EXTERNAL DEBT ARREARS SUSTAINABILITY ANALYSIS RISK ASSESSMENT MACROECONOMIC PROJECTION FRAGILE STATES
spellingShingle	DEBT DISTRESS DEBT SERVICE BURDEN PUBLIC SECTOR DEBT PUBLIC AND PUBLICLY GUARANTEED DEBT CONTINGENT LIABILITY EXTERNAL DEBT ARREARS SUSTAINABILITY ANALYSIS RISK ASSESSMENT MACROECONOMIC PROJECTION FRAGILE STATES World Bank International Monetary Fund Somalia - Joint World Bank-IMF Debt Sustainability Analysis
geographic_facet	Africa Somalia
description	This report presents the first official debt sustainability analysis undertaken for Somalia. Based on both external and public debt indicators, Somalia is in debt distress. Total public debt is very high, at dollar 4.8 billion, or 101 percent of GDP at end-2018—nearly all of which is external (100 percent of GDP). The finding that Somalia is in debt distress reflects the high external arrears on debt relative to GDP, which now represent 96 percent of the debt stock. While Somalia has no capacity to access new financing, its debt burden will continue to increase as late interest on arrears continues to accumulate. Under broadly steady state assumptions, Somalia’s total public debt is expected to increase to around 128 percent of GDP by 2039. Key risks that affect the outlook include external financing, security, and climate, further highlighting the unsustainability of Somalia’s current debt burden. Consequently, in the absence of debt relief, Somalia will remain in debt distress.
format	Report
author	World Bank International Monetary Fund
author_facet	World Bank International Monetary Fund
author_sort	World Bank
title	Somalia - Joint World Bank-IMF Debt Sustainability Analysis
title_short	Somalia - Joint World Bank-IMF Debt Sustainability Analysis
title_full	Somalia - Joint World Bank-IMF Debt Sustainability Analysis
title_fullStr	Somalia - Joint World Bank-IMF Debt Sustainability Analysis
title_full_unstemmed	Somalia - Joint World Bank-IMF Debt Sustainability Analysis
title_sort	somalia - joint world bank-imf debt sustainability analysis
publisher	World Bank, Washington, DC
publishDate	2019
url	http://documents.worldbank.org/curated/en/678011570772436350/Somalia-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-August-2019 http://hdl.handle.net/10986/32582
_version_	1764476817538809856

Somalia - Joint World Bank-IMF Debt Sustainability Analysis

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