{
  "title": "Public Debt Vulnerabilities in Low-Income Countries - The Evolving Landscape",
  "publication": "Policy Papers, November 3, 2015",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/public-debt-vulnerabilities-in-low-income-countries-the-evolving-landscape-pp5004",
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  "summary": "This is the first joint IMF/World Bank report on public debt vulnerabilities in low income countries (LICs). It examines debt-related developments and their underlying causes since the onset of the global financial crisis.",
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    {
      "heading": "Summary",
      "content": "- This is the first joint IMF/World Bank report on public debt vulnerabilities in low income countries (LICs).\n- It examines debt-related developments and their underlying causes since the onset of the global financial crisis.\n- The findings will inform the upcoming review of the IMF/WB debt sustainability framework for LICs.\n- Publication date: November 3, 2015."
    },
    {
      "heading": "Key findings",
      "content": "- Improved macroeconomic performance in LICs, combined with HIPC/MDRI debt relief and high demand for commodities, contributed to improved LIC creditworthiness.\n- New borrowing opportunities emerged due to:\n  - accommodative liquidity conditions in international capital markets,\n  - the deepening of domestic financial markets for some LICs,\n  - growing lending activities of non-Paris Club countries.\n- These new financing possibilities helped mitigate the decline in Paris Club lending to LICs.\n- There has been an associated shift toward greater reliance on non-concessional credit.\n- The changing financing landscape has been most significant for frontier LICs."
    },
    {
      "heading": "Drivers and mechanisms",
      "content": "- HIPC/MDRI debt relief: contributed to improved creditworthiness.\n- Commodity demand: high demand supported LIC macroeconomic performance.\n- International capital markets: accommodative liquidity created new borrowing avenues.\n- Domestic financial deepening: expanded options for some LICs.\n- Non-Paris Club lending: growing role altered creditor composition and financing terms."
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      "heading": "Policy relevance and use",
      "content": "- The report’s findings are intended to inform the upcoming review of the IMF/WB debt sustainability framework for LICs.\n- Subject areas highlighted: Debt relief, External borrowing, Fiscal risk, HIPC Initiative, Low-income developing countries, Multilateral debt relief initiative, Public debt.\n\nSource: Public Debt Vulnerabilities in Low-Income Countries - The Evolving Landscape — https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/public-debt-vulnerabilities-in-low-income-countries-the-evolving-landscape-pp5004\n\n---\n\n Content in this bundle\n\n- 110215\n  - 110215 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 110215 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/public-debt-vulnerabilities-in-low-income-countries-the-evolving-landscape-pp5004"
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    "Published: November 3, 2015",
    "Series: Policy Papers",
    "This is the first joint IMF/World Bank report on public debt vulnerabilities in low income countries (LICs).",
    "It examines debt-related developments and their underlying causes since the onset of the global financial crisis.",
    "The findings will inform the upcoming review of the IMF/WB debt sustainability framework for LICs.",
    "Publication date: November 3, 2015.",
    "Improved macroeconomic performance in LICs, combined with HIPC/MDRI debt relief and high demand for commodities, contributed to improved LIC creditworthiness.",
    "New borrowing opportunities emerged due to:",
    "These new financing possibilities helped mitigate the decline in Paris Club lending to LICs.",
    "There has been an associated shift toward greater reliance on non-concessional credit.",
    "The changing financing landscape has been most significant for frontier LICs.",
    "HIPC/MDRI debt relief: contributed to improved creditworthiness.",
    "Commodity demand: high demand supported LIC macroeconomic performance.",
    "International capital markets: accommodative liquidity created new borrowing avenues.",
    "Domestic financial deepening: expanded options for some LICs.",
    "Non-Paris Club lending: growing role altered creditor composition and financing terms.",
    "The report’s findings are intended to inform the upcoming review of the IMF/WB debt sustainability framework for LICs.",
    "Subject areas highlighted: Debt relief, External borrowing, Fiscal risk, HIPC Initiative, Low-income developing countries, Multilateral debt relief initiative, Public debt.",
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