03464nam 2200613Ia 450 991046399670332120190802023236.01-4623-5677-X1-4527-0566-61-4518-7337-997866128439901-282-84399-0(CKB)3170000000055343(EBL)1608816(SSID)ssj0000940831(PQKBManifestationID)11495552(PQKBTitleCode)TC0000940831(PQKBWorkID)10955483(PQKB)11078899(OCoLC)539117923(MiAaPQ)EBC1608816(EXLCZ)99317000000005534320091119d2009 uf 0engtxtccrFiscal sustainability in remittance-dependent economies[electronic resource] /Yasser Abdih ... [et al.][Washington, DC] International Monetary Fund20091 online resource (42 p.)IMF working paper ;WP/09/190"September 2009".Includes bibliographical references.1-4519-1761-9 Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Implication of Remittances for Public Debt Sustainability; III. An Application: Lebanon; 1. Lebanon: Debt Dynamics; 1. Debt Dynamics and Primary Surpluses that Stabilize the Debt Ratio for Lebanon; 2. Lebanon: Primary Surpluses that Stabilize the Debt Ratio; A. Stabilizing the Debt at Current Levels; B. Targeting a Lower Debt Level; 2. Primary Surplus Required to Reduce the Debt Ratio to a Given Target; IV. Conclusion; I. Traditional Model of Debt Sustainability; A. The law of motion of the government debt-to-GDP ratioB. The primary surplus-to-GDP ratio that stabilizes the debt-to-GDP ratio C. The primary surplus-to-GDP ratio that reduces debt-to-GDP to a given target; II. Debt Sustainability in the Presence of Remittances; A. The law of motion of the government debt-to-GDP plus remittances ratio; B. The primary surplus-to-GDP ratio that stabilizes debt-to-GDP plus remittances; C. The primary surplus-to-GDP ratio that reduces debt-to-GDP plus remittances to a given target; References; FootnotesWe investigate the impact of remittances on public debt sustainability and detail how the traditional debt-to-GDP ratio can be modified to create a more accurate representation of debt sustainability for a country that receives significant remittance inflows. The main result is that inclusion of remittances into the traditional debt sustainability analysis alters the amount of fiscal adjustment required to place debt on a sustainable path. While preliminary, these results are indicative of how a one-size-fits-all stability analysis may be inappropriate when evaluating the stance of fiscalIMF working paper ;WP/09/190.Fiscal policyDebts, PublicElectronic books.Fiscal policy.Debts, Public.336.3336.309172Abdih Y(Yasser)933490International Monetary Fund.Middle East and Central Asia Dept.MiAaPQMiAaPQMiAaPQBOOK9910463996703321Fiscal sustainability in remittance-dependent economies2101432UNINA