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02022cas a2200265 a 4500 |
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AALejournalIMF008148 |
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|c 5.00 USD
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|z 9781451850215
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Beaugrand, Philippe.
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|a The Choice Between External and Domestic Debt in Financing Budget Deficits :
|b The Case of Central and West African Countries /
|c Philippe Beaugrand, Montfort Mlachila, Boileau Loko.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2002.
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|a 1 online resource (30 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a The paper reviews the principles and practical considerations involved in the choice between foreign and domestic financing of fiscal deficits, and derives a series of recommendations broadly applicable to Central and West African countries. The paper develops a simple analytical framework and shows that highly concessional external debt is usually a superior choice to domestic debt in terms of financial costs and risks, even in the face of a probable devaluation. The paper stresses the importance of the availability and terms of financing, and of overall long-term debt sustainability. It concludes that these countries need to take a gradual approach to domestic debt financing, beginning with the issuance of short-term bills, and ensure a solid track record of meeting their debt-service obligations.
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|a Mode of access: Internet
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|a Loko, Boileau.
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|a Mlachila, Montfort.
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|a IMF Working Papers; Working Paper ;
|v No. 2002/079
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2002/079/001.2002.issue-079-en.xml
|z IMF e-Library
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