International Borrowing Strategy and Sovereign Creditworthiness

Ronald L. Solberg

Chapter 8 in Macroeconomic Management, 1995, pp 122-153 from Palgrave Macmillan

Abstract: Abstract The severe costs incurred by developing countries as a result of the debt crisis in the 1980s attest to the need for a systematic sovereign financial management strategy. This chapter offers a general set of financial axioms based on the cash-flow characteristics of foreign borrowing and is highlighted by examples drawn from the experience of the Baker-15 countries from 1972 to 1986. These financial guidelines support the efficient application of external financial resources to further structural transformation and other development goals.

Keywords: External Debt; Sovereign Debtor; International Reserve; Capital Flight; Debtor Country (search for similar items in EconPapers)
Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-24280-1_8

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DOI: 10.1007/978-1-349-24280-1_8

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