LEADER 05381oam 22011894 450 001 9910788227503321 005 20230721045732.0 010 $a1-4623-5677-X 010 $a1-4527-0566-6 010 $a1-4518-7337-9 010 $a9786612843990 010 $a1-282-84399-0 035 $a(CKB)3170000000055343 035 $a(EBL)1608816 035 $a(SSID)ssj0000940831 035 $a(PQKBManifestationID)11495552 035 $a(PQKBTitleCode)TC0000940831 035 $a(PQKBWorkID)10955483 035 $a(PQKB)11078899 035 $a(OCoLC)539117923 035 $a(MiAaPQ)EBC1608816 035 $a(IMF)WPIEE2009190 035 $a(EXLCZ)993170000000055343 100 $a20020129d2009 uf 0 101 0 $aeng 181 $ctxt 182 $cc 183 $acr 200 10$aFiscal Sustainability in Remittance-Dependent Economies /$fRalph Chami, Yasser Abdih, Amine Mati, Michael Gapen 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (42 p.) 225 1 $aIMF Working Papers 300 $a"September 2009". 300 $aIncludes bibliographical references. 311 $a1-4519-1761-9 327 $aCover 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 ratio 327 $aB. 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; Footnotes 330 3 $aWe investigate the impact of remittances on public debt sustainability and detail how the traditional debt-to-GDP ratio can be modified to create a more accurate representation of debt sustainability for a country that receives significant remittance inflows. The main result is that inclusion of remittances into the traditional debt sustainability analysis alters the amount of fiscal adjustment required to place debt on a sustainable path. While preliminary, these results are indicative of how a one-size-fits-all stability analysis may be inappropriate when evaluating the stance of fiscal policy for countries with different balance of payments characteristics. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/190 606 $aFiscal policy 606 $aDebts, Public 606 $aBanks and Banking$2imf 606 $aExports and Imports$2imf 606 $aMacroeconomics$2imf 606 $aPublic Finance$2imf 606 $aRemittances$2imf 606 $aDebt$2imf 606 $aDebt Management$2imf 606 $aSovereign Debt$2imf 606 $aInternational Lending and Debt Problems$2imf 606 $aFiscal Policy$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aInternational economics$2imf 606 $aPublic finance & taxation$2imf 606 $aFinance$2imf 606 $aPublic debt$2imf 606 $aDebt sustainability$2imf 606 $aFiscal consolidation$2imf 606 $aReal interest rates$2imf 606 $aInternational finance$2imf 606 $aDebts, Public$2imf 606 $aDebts, External$2imf 606 $aFiscal policy$2imf 606 $aInterest rates$2imf 607 $aLebanon$2imf 615 0$aFiscal policy. 615 0$aDebts, Public. 615 7$aBanks and Banking 615 7$aExports and Imports 615 7$aMacroeconomics 615 7$aPublic Finance 615 7$aRemittances 615 7$aDebt 615 7$aDebt Management 615 7$aSovereign Debt 615 7$aInternational Lending and Debt Problems 615 7$aFiscal Policy 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aInternational economics 615 7$aPublic finance & taxation 615 7$aFinance 615 7$aPublic debt 615 7$aDebt sustainability 615 7$aFiscal consolidation 615 7$aReal interest rates 615 7$aInternational finance 615 7$aDebts, Public 615 7$aDebts, External 615 7$aFiscal policy 615 7$aInterest rates 676 $a336.3 676 $a336.309172 700 $aChami$b Ralph$01472694 701 $aAbdih$b Yasser$01462111 701 $aMati$b Amine$01493467 701 $aGapen$b Michael$01509598 712 02$aInternational Monetary Fund.$bMiddle East and Central Asia Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788227503321 996 $aFiscal Sustainability in Remittance-Dependent Economies$93741579 997 $aUNINA