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Debt in Transition Economies: Where Is It Heading, What Can Be Done About It?
| Content Provider | Semantic Scholar |
|---|---|
| Author | Buiter, Willem H. Lago, Ricardo |
| Copyright Year | 2001 |
| Abstract | [eng] Since the start of the transition, the countries of central-eastern Europe and the Baltic States, South-Eastern Europe and the CIS have experienced a wide variety of debt developments. The paper traces the main developments in the indebtedness of the countries in the region and shows how the debt burdens of countries have changed dramatically. While some countries that were heavily indebted at the beginning of the transition have reduced their debt burdens, others that started off debt-free have accumulated debt to such an extent that it may now be unsustainable. The paper places special emphasis on the issue of external and public debt sustainability and the build-up of debt between CIS countries and the related energy payments crisis. The article concludes with some possible approaches to debt workouts for CIS countries, including several types of debt swaps. . JEL classifications : P20, P35 [fre] La dette des economies en transition : evolution et marche a suivre . Depuis le debut de la transition, les pays de l’Est ont connu de nombreux developpements en matiere de dette. Le present article suit les principaux developpements de l’endettement des pays de la region et montre les changements radicaux qui ont marque le poids de la dette dans ces pays. Si certains, fortement endettes au debut de la transition, ont reduit le fardeau de leur dette, d’autres qui avaient commence dans de bonnes conditions ont accumule l’endettement a un point probablement insoutenable. L’article insiste tout particulierement sur la question de la soutenabilite de la dette publique et exterieure, de l’accumulation des dettes entre les pays de la CEI et de la crise qui a touche les paiements des importations d’energie. Enfin, le document suggere quelques approches en matiere de restructuration de l’endettement des pays de la CEI, dont differents types d’echanges de dette. . Classification JEL : P20, P35 |
| Starting Page | 191 |
| Ending Page | 213 |
| Page Count | 23 |
| File Format | PDF HTM / HTML |
| DOI | 10.3406/ecofi.2001.4559 |
| Volume Number | 6 |
| Alternate Webpage(s) | https://www.hnb.hr/documents/20182/121006/ricardo+lago-debt-in-transition+.pdf/2eeb9729-fa40-4b15-958f-42290ae9cf6d |
| Alternate Webpage(s) | https://doi.org/10.3406/ecofi.2001.4559 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
