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EMDC debt distress.
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DOI: 10.1108/OXAN-DB253173
ISSN: 2633-304X
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Geographic
Topical
The budget envisages an overall deficit of 7% of GDP, revised upwards from an earlier draft because of the effects of devaluation and higher interest rates on public debt…
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DOI: 10.1108/OXAN-DB279201
ISSN: 2633-304X
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Geographic
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Days before this announcement, the government asked Congress to approve a primary deficit of up to 96.65 billion reais (some 1.5% of GDP) for this year. The sharp deterioration in…
Whereas developed economies and China have benefited from USD9tn in fiscal stimulus and USD5tn in liquidity, EMs have less scope because they cannot issue local-currency debt…
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DOI: 10.1108/OXAN-DB253864
ISSN: 2633-304X
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Geographic
Topical
The bill forecasts a fall in the primary deficit next year, mainly due to an expected drop in COVID-19-related welfare payments. The government also aims to boost public works to…
It has fallen from about 6.50 at end-March and 5.95 at end-2019. There is speculation about a possible balance of payments crisis due to the COVID-19 pandemic, economic…
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DOI: 10.1108/OXAN-DB251995
ISSN: 2633-304X
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Geographic
Topical
The slump was caused by low oil prices and left a legacy of higher debt and banking fragility. The slowdown pushed the government into reviewing the fiscal framework and placing…
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DOI: 10.1108/OXAN-DB243281
ISSN: 2633-304X
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Doubts over the extent of recovery from a double-digit contraction this year are complicating efforts to renegotiate debt with the IMF and present a plausible economic policy…
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DOI: 10.1108/OXAN-DB257353
ISSN: 2633-304X
Keywords
Geographic
Topical
The 2021 budget implies a significant fiscal adjustment, with the primary deficit falling from 7-8% of GDP in 2020 to 4.5% in 2021, mainly due to the end of the pandemic relief…