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IMFx: DSAx Debt Sustainability Analysis

Part 1: Principles of Debt Sustainability

  1. S. M. Ali Abbas; Bernardin Akitoby; Jochen R. Andritzky; Helge Berger; Takuji Komatsuzaki; Justin Tyson. (2013), Dealing with High Debt in an Era of Low Growth, (Washington, D.C.: International Monetary Fund)
  2. International Monetary Fund. 2011. Modernizing the Framework for Fiscal Policy and Public Debt Sustainability Analysis.

Part 2: Debt Sustainability Framework: MACs

  1. IMF Webpage: Debt Sustainability Analysis in Market-Access Countries (MACs) 
  2. International Monetary Fund. 2012. Systemic Banking Crises Database: An Update.
  3. International Monetary Fund. (2012). World Economic Outlook: Coping with High Debt and Sluggish Growth (Chapter 3: The Good, the Bad, and the Ugly: 100 Years of Dealing with Public Debt Overhangs).
  4. International Monetary Fund. (2013). Staff Guidance Note for Public Debt Sustainability Analysis in Market-Access Countries.

Part 3: Debt Sustainability Analysis for LICs

  1. IMF Webpage: Debt Sustainability Framework for Low-Income Countries
  2. International Monetary Fund. (2012). Revisiting the Debt Sustainability Framework for Low-Income Countries. 
  3. International Monetary Fund. (2013). Unification of Discount Rates Used in External Debt Analysis for Low-Income Countries. 
  4. IMF Webpage: Concessionality and the Design of Debt Limits in IMF-Supported Programs in Low-Income Countries
  5. Task Force on Finance Statistics. (2013). Public Sector Debt Statistics Guide.
  6. IMF Fact Sheet: Special Drawing Rights (SDRs)
  7. IMF Fact Sheet: Debt Relief Under the Heavily Indebted Poor Countries (HIPC) Initiative
  8. IMF Fact Sheet: The Multilateral Debt Relief Initiative (MDRI) 
  9. IMF Webpage: IMF Members' Financial Data by Country
  10. IMF Webpage: IMF Finances
  11. International Monetary Fund. (2013). Côte d’Ivoire 2013 Article IV Consultation and Fourth Review Under the Extended Credit Facility Arrangement.
  12. International Monetary Fund. (2013). Bangladesh 2013 Debt Sustainability Analysis Update.
  13. International Monetary Fund. (2013). Kenya 2013 Debt Sustainability Analysis.
  14. Buffie, Berg, Pattillo, Portillo and Zanna. (2012). Public Investment, Growth, and Debt Sustainability: Putting Together the Pieces (Washington, D.C.: International Monetary Fund)
  15. G. Melina, S. Yang, and L.F. Zanna. (2014), Debt Sustainability, Public Investment, and Natural Resources in Developing Countries: the DIGNAR Model (Washington, D.C.: International Monetary Fund).

Part 4: Medium-Term Debt Management Strategy Framework (MTDS)

  1. World Bank Webpage: Medium-Term Debt Management Strategies.
  2. International Monetary Fund and World Bank. (2009). Developing a Medium-Term Debt Management Strategy (MTDS): A Guide for Country Authorites.
  3. IMF and World Bank. (2012). MTDS - The Analytical Tool - User Guide.
  4. International Monetary Fund. (2014). Policy Paper: Revised Guidelines for Public Debt Management.
  5. Ministry of Finance of Brazil, National Treasury Secretariat. (2014). Federal Public Debt: Annual Borrowing Plan. 
  6. Bank of Canada. (2011). Developing a Medium-Term Debt-Management Strategy for the Government of Canada.
  7. Ministry of Finance of the Republic of Kenya. (2011). Republic of Kenya - Medium-Term Debt Management Strategy.
  8. HM Treasury, United Kingdom. (2014). Debt and Reserves Management Report 2014-15.

Part 5: Debt Sustainability Analysis Under Uncertainty 

  1. Heller, Peter S. ; Katz, Menachem ; Debrun, Xavier ; Thomas, Theo ; Koranchelian, Taline ; Adenauer, Isabell. (2006). Making Fiscal Space Happen: Managing Fiscal Policy in a World of Scaled-Up Aid.
  2. Celasun, Oya ; Debrun, Xavier ; Ostry, Jonathan David. (2006 Primary Surplus Behavior and Risks to Fiscal Sustainability in Emerging Market Countries: A “Fan-Chart” Approach.