Reform of the Policy on Public Debt Limits in IMF-Supported Programs
Author: International Monetary Fund. Strategy, Policy, & Review Department
Publisher: International Monetary Fund
Published: 2020-11-11
Total Pages: 67
ISBN-13: 1513560883
DOWNLOAD EBOOKThis paper evaluates the IMF’s policy on the use of quantitative limits on public debt in IMF-supported programs (the “debt limits policy”) and proposes a number of modifications. The review is taking place at a time when many countries are experiencing heightened debt vulnerabilities or actual debt distress, aggravated by the COVID-19 shock, and occurring against the backdrop of a changing credit landscape in which concessional finance is scarcer relative to countries’ investment needs.