DEBT AND DEBT SUSTAINABILITY IN THE CONTEXT OF SUSTIANABLE DEVELOPMENT

Alina Ailincă ()

Annals - Economy Series, 2021, vol. 5, 68-77

Abstract: Without any prior training, the world was taken by surprise by the dramatic effects of a global virus response - COVID-19. In addition to the insurmountable human losses, the financial losses are still accounted for, especially as things are still going on. The pandemic has shown that many problems ignored in the past are related to the inability to transition or the slow transition to sustainable development. Debt has been, and will always be, a key issue at the global, regional and national levels. Globally, if before the Covid-19 pandemic the public debt levels and prospects were not satisfactory, with the onset of the pandemic, the debt indicators practically exploded, fervently imposing the need for a paradigm shift regarding fiscal-budgetary sustainability. Therefore, this article analyzes econometrically at EU27 countries level the concept of sustainability, starting from the IMF methodology and re-establishing it in its own way, so as to analyze the influence also of official development assistance, indicator that reveals to a certain extent the financing for sustainable development. The results confirm some conclusions of the literature but also offer new directions to be explored regarding the repositioning of the concept of public debt sustainability.

Keywords: debt sustainability; official development assistance; sustainable development; pre-COVID-19 and COVID-19 periods (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2021:v:5:p:68-77

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