More than one decade after the external debt restructuring (the Brady Plan), a great amount of literature has been published concerning the balance sheet factors in developing countries. The staff of international multilateral ...

From November 2001 to April 2003, the International Monetary Fund grappled with a radical proposal, the Sovereign Debt Restructuring Mechanism, for handling the external debt of insolvent governments of developing ...

The main arguments in favor and against nominal and indexed debts are the incentive to default through inflation versus hedging against unforeseen shocks. We model and calibrate these arguments to assess their quantitative ...

Em algumas federações contemporâneas a sustentabilidade dívida dos entes subnacionais recorrentemente causa conflitos políticos e desequilíbrios macroeconômicos. É o caso da federação brasileira. Buscando mitigar os efeitos ...

This paper highlights the role of external indebtedness and the presence of inflationary inertia in order to assess the effectiveness and sustainability of inflation targeting during disinflation episodes. As the recent ...

After the costly bailout of subnational public finances in 1995, the Mexican central government began a process of fiscal decentralization aimed to prevent unsustainable debt levels and further subnational bailouts. Despite ...

El documento presenta un estudio sobre las relaciones entre la política fiscal y el endeudamiento, en términos de su viabilidad y sostenibilidad, en el marco de la dinámica del crecimiento del país y sus restricciones ...

This paper examines the sustainability of public debt of Ecuador’s post dollarization period. Most studies that have addressed this issue used as methodology test the seasonal in the ratio debt/GDP, and it has been shown ...

In the wake of the COVID-19 crisis, many countries suspended their fiscal rules and increased debt levels. A new post pandemic normality and the need to regain investor confidence in emerging economies creates an urgency ...