Reform of the Policy on Public Debt Limits in IMF-Supported Programs

November 11, 2020

Preview Citation

Format: Chicago

Reform of the Policy on Public Debt Limits in IMF-Supported Programs, (USA: International Monetary Fund, 2020) accessed May 17, 2025

Also available in: français

Summary

This paper evaluates the IMF’s policy on the use of quantitative limits on public debt in IMF-supported programs (the “debt limits policy”) and proposes a number of modifications. The review is taking place at a time when many countries are experiencing heightened debt vulnerabilities or actual debt distress, aggravated by the COVID-19 shock, and occurring against the backdrop of a changing credit landscape in which concessional finance is scarcer relative to countries’ investment needs.

Subject: Asset and liability management, Concessional external borrowing, Debt limits, Debt sustainability, External debt, Government debt management, Public debt, Public financial management (PFM)

Keywords: Africa, Concessional external borrowing, Debt conditionality, Debt limits, Debt limits policy, Debt sustainability, Debt vulnerability, Financing arrangement, Fund staff, Global, Government debt management, Heightened debt vulnerability, Low income countries, PP

Publication Details

Pages:

67
Volume:

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DOI:

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Issue:

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Series:

Policy Paper No. 2020/061
Stock No:

PPEA2020061
ISBN:

9781513560885
ISSN:

2663-3493

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