The choice between external and domestic debt in financing budget deficits : the case of Central and West African countries /

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Bibliographic Details
Author / Creator:Beaugrand, Philippe.
Imprint:[Washington, D.C.] : International Monetary Fund, ©2002.
Description:1 online resource (29 pages) : illustrations
Language:English
Series:IMF working paper, 2227-8885 ; WP/02/79
IMF working paper ; WP/02/79.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12497904
Hidden Bibliographic Details
Other authors / contributors:Loko, Boileau.
Mlachila, Montfort.
International Monetary Fund. African Department.
International Monetary Fund. Policy Development and Review Department.
ISBN:1281602485
9781281602480
1451896409
9781451896404
1462325769
9781462325764
1452745218
9781452745213
9786613783172
661378317X
9781451850215
1451850212
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.
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.
Other form:Print version: Beaugrand, Philippe. Choice between external and domestic debt in financing budget deficits. [Washington, D.C.] : International Monetary Fund, ©2002
Standard no.:10.5089/9781451896404.001

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245 1 4 |a The choice between external and domestic debt in financing budget deficits :  |b the case of Central and West African countries /  |c Philippe Beaugrand, Boileau Loko, and Montfort Mlachila. 
260 |a [Washington, D.C.] :  |b International Monetary Fund,  |c ©2002. 
300 |a 1 online resource (29 pages) :  |b illustrations 
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520 |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. 
546 |a English. 
650 0 |a Budget deficits  |z Africa, Central  |x Econometric models. 
650 0 |a Budget deficits  |z Africa, West  |x Econometric models. 
650 0 |a Deficit financing  |z Africa, Central  |x Econometric models. 
650 0 |a Deficit financing  |z Africa, West  |x Econometric models. 
650 0 |a Debts, External  |z Africa, Central  |x Econometric models. 
650 0 |a Debts, External  |z Africa, West  |x Econometric models. 
650 0 |a Debt  |z Africa, Central  |x Econometric models. 
650 0 |a Debt  |z Africa, West  |x Econometric models. 
650 0 |a Finance, Public  |z Africa, Central  |x Econometric models. 
650 0 |a Finance, Public  |z Africa, West  |x Econometric models. 
650 6 |a Déficit budgétaire  |z Afrique centrale  |x Modèles économétriques. 
650 6 |a Déficit budgétaire  |z Afrique occidentale  |x Modèles économétriques. 
650 6 |a Financement par le déficit  |z Afrique centrale  |x Modèles économétriques. 
650 6 |a Financement par le déficit  |z Afrique occidentale  |x Modèles économétriques. 
650 6 |a Dettes extérieures  |z Afrique centrale  |x Modèles économétriques. 
650 6 |a Dettes extérieures  |z Afrique occidentale  |x Modèles économétriques. 
650 6 |a Dettes  |z Afrique centrale  |x Modèles économétriques. 
650 6 |a Dettes  |z Afrique occidentale  |x Modèles économétriques. 
650 6 |a Finances publiques  |z Afrique centrale  |x Modèles économétriques. 
650 6 |a Finances publiques  |z Afrique occidentale  |x Modèles économétriques. 
650 7 |a Budget deficits  |x Econometric models.  |2 fast  |0 (OCoLC)fst00840406 
650 7 |a Debt  |x Econometric models.  |2 fast  |0 (OCoLC)fst00888771 
650 7 |a Debts, External  |x Econometric models.  |2 fast  |0 (OCoLC)fst00888832 
650 7 |a Deficit financing  |x Econometric models.  |2 fast  |0 (OCoLC)fst00889733 
650 7 |a Finance, Public  |x Econometric models.  |2 fast  |0 (OCoLC)fst00924532 
651 7 |a Central Africa.  |2 fast  |0 (OCoLC)fst01239510 
651 7 |a West Africa.  |2 fast  |0 (OCoLC)fst01239521 
655 4 |a Electronic books. 
700 1 |a Loko, Boileau. 
700 1 |a Mlachila, Montfort. 
710 2 |a International Monetary Fund.  |b African Department. 
710 2 |a International Monetary Fund.  |b Policy Development and Review Department.  |0 http://id.loc.gov/authorities/names/no92024196 
776 0 8 |i Print version:  |a Beaugrand, Philippe.  |t Choice between external and domestic debt in financing budget deficits.  |d [Washington, D.C.] : International Monetary Fund, ©2002  |w (OCoLC)49838492 
830 0 |a IMF working paper ;  |v WP/02/79.  |0 http://id.loc.gov/authorities/names/no89010263 
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