Publication: Fiscal Vulnerabilities in Low-Income Countries: Evolution, Drivers, and Policies
| dc.contributor.author | Mawejje, Joseph | |
| dc.date.issued | 2025-05-29 | |
| dc.description.abstract | The world’s 26 poorest economies—home to about 40 percent of all people who live on less than $2.15 a day—are deeper in debt than at any time since 2006 and increasingly vulnerable to natural disasters and other shocks. Yet international aid as a share of their GDP has dwindled to a two-decade low, starving many of much-needed affordable financing. This study constitutes the first systematic assessment of the causes of chronic fiscal weakness in the very poorest economies—those with annual per capita incomes of less than $1,145 a year. These economies are poorer today on average than they were on the eve of COVID-19, even though the rest of the world has largely recovered. Government debt, on average, now stands at 72 percent of GDP, an 18-year high. Nearly half of these low-income countries (LICs)—twice the number in 2015—are either in debt distress or at high risk of it. Not one of them is at low risk. | en |
| dc.identifier.doi | 10.1596/978-1-4648-1968-1 | |
| dc.identifier.isbn | 978-1-4648-1968-1 | |
| dc.language.iso | en_US | |
| dc.publisher | Washington, DC: World Bank | |
| dc.rights | CC BY 3.0 IGO | |
| dc.rights.holder | World Bank | |
| dc.rights.uri | http://creativecommons.org/licenses/by/3.0/igo | |
| dc.subject | DEBT VULNERABILITY | |
| dc.subject | FISCAL WEAKNESS | |
| dc.subject | DEBT DISTRESS | |
| dc.subject | GOVERNMENT DEBT | |
| dc.title | Fiscal Vulnerabilities in Low-Income Countries: Evolution, Drivers, and Policies | en |
| dc.type | Book | |
| dspace.entity.type | Publication | |
| okr.crossref.title | Fiscal Vulnerabilities in Low-Income Countries: Evolution, Drivers, and Policies | |
| okr.date.disclosure | 2024-10-10 | |
| okr.date.doiregistration | 2025-04-15T11:09:02.290606Z | |
| okr.date.doiregistration | 2025-05-23T02:23:05.806846Z | |
| okr.date.doiregistration | 2025-05-28T02:10:19.157765Z | |
| okr.date.doiregistration | 2025-05-29T02:10:25.204083Z | |
| okr.doctype | Publications & Research | |
| okr.doctype | Publications & Research::Publication | |
| okr.identifier.doi | 10.1596/978-1-4648-1968-1 | |
| okr.topic | Finance and Financial Sector Development | |
| okr.unit | DECPG |