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Is Domestic Debt the Answer to Debt Crises?

Panizza, Ugo

Analysis of public debt in developing countries has traditionally focused on external debt. However, in recent years several countries have looked increasingly to domestic sources when expanding their net borrowing or adopted aggressive policies aimed at retiring public external debt and substituting it with domestically issued debt. Some countries are even building up domestic fiscal liabilities with the objective of sterilizing enlarged aid inflows. This chapter asks what possible challenges and opportunities might be arising from these new developments in sovereign debt management.

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More About This Work

Academic Units
Initiative for Policy Dialogue
Publisher
Initiative for Policy Dialogue
Series
Initiative for Policy Dialogue Working Paper Series
Published Here
February 3, 2010

Notes

The opinions expressed in these papers represent those of the author(s) and not The Initiative for Policy Dialogue. These papers are unpublished and have not been peer reviewed. Please do not cite without explicit permission from the author(s).

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