External Debt Sustainability in HIPC Completion Point Countries

Yan Sun

No 2004/160, IMF Working Papers from International Monetary Fund

Abstract: This paper examines a number of structural factors affecting the external debt sustainability of HIPC completion point countries. It shows that (i) while comparing favorably with other lowincome countries, the policy and institutional frameworks of completion point countries in general are still relatively weak, and their debt management practices remain inferior to international standards; and (ii) their export base remains narrow and fiscal revenue mobilization lags behind, even compared with many other low-income countries. Achieving and maintaining long-term debt sustainability in completion point countries will require continued structural reforms, timely donor support, and close monitoring of new borrowing in support of sound macroeconomic policies.

Keywords: WP; HIPC Completion Point Countries; debt management; export; HIPCs; debt; External debt sustainability; HIPC; PRGF country; debt management capacity; point country; HIPC country; country paper; export diversification; Government debt management; Debt sustainability; Institutional arrangements for revenue administration; Revenue mobilization; Exports; Global (search for similar items in EconPapers)
Pages: 34
Date: 2004-09-01
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Citations: View citations in EconPapers (18)

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