Publication:
Fiscal Vulnerabilities in Low-Income Countries: Evolution, Drivers, and Policies

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dc.contributor.authorMawejje, Joseph
dc.date.accessioned2024-10-10T23:28:07Z
dc.date.available2024-10-10T23:28:07Z
dc.date.issued2024-10-14
dc.description.abstractThe 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.doi10.1596/42239
dc.identifier.urihttps://hdl.handle.net/10986/42239
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectDEBT VULNERABILITY
dc.subjectFISCAL WEAKNESS
dc.subjectDEBT DISTRESS
dc.subjectGOVERNMENT DEBT
dc.titleFiscal Vulnerabilities in Low-Income Countries: Evolution, Drivers, and Policiesen
dc.typeBook
dspace.entity.typePublication
okr.crossref.titleFiscal Vulnerabilities in Low-Income Countries: Evolution, Drivers, and Policies
okr.date.disclosure2024-10-10
okr.date.doiregistration2025-04-15T11:09:02.290606Z
okr.doctypePublications & Research
okr.doctypePublications & Research::Publication
okr.identifier.doihttps://doi.org/10.1596/42239
okr.topicFinance and Financial Sector Development
okr.unitDECPG
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