Publication: The Demand for Loans : Governments Restructure Their Debt
Date
2005-04
ISSN
Published
2005-04
Author(s)
Harford, Tim
Klein, Michael
Martin, Facundo
Abstract
More than ever, governments in
developing countries have access to capital markets, but
most are not using it. Instead, they have restructured their
debt portfolios, cutting the share of private sector debt
and increasing the share of longer-term multilateral debt.
While some argue that this increase in official debt is
alarming, the evidence suggests that most governments are
sensibly taking advantage of their menu of financing
options extending maturities to lessen their vulnerability
to the rollover risk posed by shorterterm debt and
reducing their overall debt ratios.
Citation
“Harford, Tim; Klein, Michael; Martin, Facundo. 2005. The Demand for Loans : Governments Restructure Their Debt. Viewpoint. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/d3b89699-bd0e-5ad0-aa5c-b07f6d98d355 License: CC BY 3.0 IGO.”
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