EXTERNAL DEBT SUSTAINABILITY: TRUE OR FALSE?

Tudor Boengiu
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Tudor Boengiu: Bucharest Academy of Economic Studies

Theoretical and Applied Economics, 2009, vol. 12(541)(supplement), issue 12(541)(supplement), 357-363

Abstract: The liquidity crisis of the last decade have determined the Government experts, the experts from the central banks and those from the IMF to draft new methods for assessing the liquidity and solvability risks and to analyze the sustainability of the external debt. In all the states affected by financial crisis the main macroeconomic indicators were at levels considered normal and nobody would have foreseen that in the neat future the respective countries will encounter serious liquidity crisis generated by important accumulations of external debt, especially on short term and private external debt. Under these circumstances, the external debt sustainability analysis approach has changed and to simulate possible future crisis we are using stress testing.

Keywords: external debt; liquidity; sustainability; gross domestic product; external debt service. (search for similar items in EconPapers)
Date: 2009
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