External Debt Sustainability in HIPC Completion Point Countries

Author/Editor:

Yan Sun

Publication Date:

September 1, 2004

Electronic Access:

Download PDF. Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper examines a number of structural factors affecting the external debt sustainability of HIPC completion point countries. It shows that (i) while comparing favorably with other lowincome countries, the policy and institutional frameworks of completion point countries in general are still relatively weak, and their debt management practices remain inferior to international standards; and (ii) their export base remains narrow and fiscal revenue mobilization lags behind, even compared with many other low-income countries. Achieving and maintaining long-term debt sustainability in completion point countries will require continued structural reforms, timely donor support, and close monitoring of new borrowing in support of sound macroeconomic policies.

Series:

Working Paper No. 04/160

Subject:

English

Publication Date:

September 1, 2004

ISBN/ISSN:

9781451857771/1018-5941

Stock No:

WPIEA1602004

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

34

Please address any questions about this title to publications@imf.org