Sovereign Debt and the Financial Crisis: Will This Time Be Different? (Part 1 of 2)

SOVEREIGN DEBT AND THE

FINANCIAL CRISIS Will This Time Be Different?

Edited by

Carlos A. Primo Braga Gallina A. Vincelette

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Sovereign Debt and the Financial Crisis: Will This Time Be Different? (Part 1 of 2)

Published on Nov 20, 2010

World Bank Publications

In the wake of the financial crisis of 2008, governments worldwide undertook massive fiscal interventions to stave off what otherwise would have likely been a system-wide financial and economic meltdown. The policy responses engendered significant shifts in growth trajectories and debt sustainability outlooks of both mature and developing economies. For Low Income Countries, post-crisis debt sustainability analyses show an average deterioration of 5-7 percentage points in the present value of public debt-to-GDP ratio in 2009-10 compared with pre-crisis projections, and stay in the area of 30 percent until 2014. Second part of book available at http://issuu.com/world.bank.publications/docs/9780821384831_pt2

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