Hidden Bibliographic Details
| Other authors / contributors: | Loko, Boileau.
Mlachila, Montfort.
International Monetary Fund. African Department.
International Monetary Fund. Policy Development and Review Department.
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| ISBN: | 1281602485
9781281602480
1451896409
9781451896404
1462325769
9781462325764
1452745218
9781452745213
9786613783172
661378317X
9781451850215
1451850212
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| Notes: | Includes bibliographical references (pages 28-29).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | 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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| Other form: | Print version: Beaugrand, Philippe. Choice between external and domestic debt in financing budget deficits. [Washington, D.C.] : International Monetary Fund, ©2002
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| Standard no.: | 10.5089/9781451896404.001
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