Publication: Debt Management : Now the Difficult Part
Date
2010-07
ISSN
Published
2010-07
Author(s)
Gooptu, Sudarshan
Primo Braga, Carlos A.
Abstract
The first years of the 21st century were
characterized by more prudent macroeconomic policies in the
developing world, the positive impact of debt relief on
low-income countries (LICs), and positive growth trends for
the world economy, despite the puncturing of the high-tech
"bubble" in Organization for Economic Co-operation
and Development (OECD) countries. Until the eve of the
financial crisis, many emerging economies were able to
reduce the vulnerabilities of their debt portfolios and debt
management was being carried out under favorable
circumstances. Average maturities increased, reflecting
increases in the maturities of new debt issuances, and
rollover risks declined. Moreover, the increased
availability of local currency financing, reflecting the
development of domestic capital markets, and the
globalization of the corporate sector in emerging economies
underscored the changing landscape of development financing.
Citation
“Gooptu, Sudarshan; Primo Braga, Carlos A.. 2010. Debt Management : Now the Difficult Part. Economic Premise; No. 23. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/5458ac8e-2dd3-5a06-bf82-c08eca56f423 License: CC BY 3.0 IGO.”