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| Author: | Edwards, S. |
| Title: | Debt relief and fiscal sustainability |
| Journal: | Weltwirtschaftliches Archiv
2003 : VOL. 139:1, p. 38-65 |
| Index terms: | Debt Debt management Fiscal policy Public sector |
| Language: | eng |
| Abstract: | The relationship between fiscal policy, aggregate public sector debt sustainability and debt relief are analyzed in this paper. A methodology to compute the fiscal policy path that is compatible with aggregate debt sustainability in the post-HIPC era is developed. The role of domestic debt is explicitly considered in the model and the extent to which future debt sustainability depends on the availability of concessional loans at subsidized interest rates is quantified. |
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