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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. 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).
  2. International Monetary Fund. (2005). Ukraine Staff Report: Ex Post Assessment of Longer-Term Program Engagement, (pp. 4).
  3.  International Monetary Fund. (2002) Ireland: Selected Issues, pp. 42. 
  4. International Monetary Fund. (2013). Ireland: Eleventh Review Under the Extended Arrangement.
  5. Laevan, Luc & Valencia, Fabian. (2012) Systemic Banking Crises Database: An Update (Washington, D.C.: International Monetary Fund).

Part 3: Debt Sustainability Analysis for LICs

  1. Buffie, Edward, Andrew Berg, Catherine Pattillo, Rafael Portillo, and Luis-Felipe Zanna. (2012) Public Investment, Growth, and Debt Sustainability: Putting Together the Pieces (Washington D.C.: International Monetary Fund).
  2. International Development Association. 2012. Revisiting the Debt Sustainability Framework for Low-Income Countries.
  3. International Monetary Fund. (2013). Bangladesh: Second Review under the Three-Year Arrangement under the Extended Credit Facility, Requests for Modifications of Performance Criteria – Debt Sustainability Analysis Update.
  4. International Monetary Fund. (2013). Côte d’Ivoire: Article IV Consultation and Fourth Review Under the Extended Credit Facility Arrangement.
  5. International Monetary Fund. (2013). Kenya: Fifth Review under the Three-Year Arrangement under the Extended Credit Facility and Request for a Waiver and Modification of Performance Criteria – Debt Sustainability Analysis.
  6. International Monetary Fund. (2013). Unification of Discount Rates Used in External Debt Analysis for Low-Income Countries (Washington D.C.: International Monetary Fund). 
  7. 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. International Monetary Fund and World Bank. (2009). Developing a Medium-Term Debt Management Strategy (MTDS): A Guide for Country Authorites.
  2. IMF and World Bank. (2012). MTDS - The Analytical Tool - User Guide.
  3. International Monetary Fund. (2014). Policy Paper: Revised Guidelines for Public Debt Management.
  4. Ministry of Finance of Brazil, National Treasury Secretariat. (2014). Federal Public Debt: Annual Borrowing Plan. 
  5. Bank of Canada. (2011). Developing a Medium-Term Debt-Management Strategy for the Government of Canada.
  6. Ministry of Finance of the Republic of Kenya. (2011). Republic of Kenya - Medium-Term Debt Management Strategy.
  7. 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.