Lending to the Poorest Countries: A New Counter-Cyclical Debt Instrument
One of the particular features of poor countries' economies is their volatility, due mostly to their dependence on commodities. The paper shows that this volatility is a prime factor behind the debt crises of the poorest countries. It advocates the adoption by donors of a new lending instrument...
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| Beteilige Person: | |
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| Weitere beteiligte Personen: | , , |
| Format: | Elektronisch E-Book |
| Sprache: | Englisch |
| Veröffentlicht: |
Paris
OECD Publishing
2008
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| Schriftenreihe: | OECD Development Centre Working Papers
|
| Schlagwörter: | |
| Links: | https://doi.org/10.1787/242606541087 |
| Zusammenfassung: | One of the particular features of poor countries' economies is their volatility, due mostly to their dependence on commodities. The paper shows that this volatility is a prime factor behind the debt crises of the poorest countries. It advocates the adoption by donors of a new lending instrument: the countercyclical loan (CCL). The key idea is to reduce the grace period of a typical concessional loan, from 10 to 5 years, and to keep the remaining grace periods as an asset that the country can draw upon, when a bad shock occurs. If no such bad shocks happen, or infrequently enough, the "floating grace" is redeemed to the country at the end of the loan as a repayment in advance without penalties |
| Umfang: | 1 Online-Ressource (45 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/242606541087 |
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| 520 | |a One of the particular features of poor countries' economies is their volatility, due mostly to their dependence on commodities. The paper shows that this volatility is a prime factor behind the debt crises of the poorest countries. It advocates the adoption by donors of a new lending instrument: the countercyclical loan (CCL). The key idea is to reduce the grace period of a typical concessional loan, from 10 to 5 years, and to keep the remaining grace periods as an asset that the country can draw upon, when a bad shock occurs. If no such bad shocks happen, or infrequently enough, the "floating grace" is redeemed to the country at the end of the loan as a repayment in advance without penalties | ||
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| illustrated | Not Illustrated |
| indexdate | 2025-01-11T15:45:24Z |
| institution | BVB |
| language | English |
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| physical | 1 Online-Ressource (45 Seiten) 21 x 29.7cm |
| psigel | ZDB-13-SOC |
| publishDate | 2008 |
| publishDateSearch | 2008 |
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| publisher | OECD Publishing |
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| series2 | OECD Development Centre Working Papers |
| spellingShingle | Cohen, Daniel Lending to the Poorest Countries A New Counter-Cyclical Debt Instrument Development |
| title | Lending to the Poorest Countries A New Counter-Cyclical Debt Instrument |
| title_auth | Lending to the Poorest Countries A New Counter-Cyclical Debt Instrument |
| title_exact_search | Lending to the Poorest Countries A New Counter-Cyclical Debt Instrument |
| title_full | Lending to the Poorest Countries A New Counter-Cyclical Debt Instrument Daniel Cohen ... [et al] |
| title_fullStr | Lending to the Poorest Countries A New Counter-Cyclical Debt Instrument Daniel Cohen ... [et al] |
| title_full_unstemmed | Lending to the Poorest Countries A New Counter-Cyclical Debt Instrument Daniel Cohen ... [et al] |
| title_short | Lending to the Poorest Countries |
| title_sort | lending to the poorest countries a new counter cyclical debt instrument |
| title_sub | A New Counter-Cyclical Debt Instrument |
| topic | Development |
| topic_facet | Development |
| url | https://doi.org/10.1787/242606541087 |
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