Changing Patterns in Low-Income Country Financing and Implications for Fund Policies on External Financing and Debt
Author | : International Monetary Fund. Strategy, Policy, & Review Department |
Publisher | : International Monetary Fund |
Total Pages | : 50 |
Release | : 2009-02-26 |
ISBN-10 | : 9781498336253 |
ISBN-13 | : 1498336256 |
Rating | : 4/5 (256 Downloads) |
Download or read book Changing Patterns in Low-Income Country Financing and Implications for Fund Policies on External Financing and Debt written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2009-02-26 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Low-income countries (LICs) face significant challenges in meeting their development objectives while maintaining a sustainable debt position. The international community’s main answer to this dilemma has been to promote recourse to concessional external resources. The Fund’s recommendations to LICs conform to this preference: the practice in Fund-supported programs in LICs has generally been to set zero limits on nonconcessional external borrowing while not restricting concessional financing, although flexibility has been applied on a case-by-case basis to allow some nonconcessional borrowing when warranted.