Sustained Debt Reduction: The Jamaica Exception /

Reducing high public debts is key for countries seeking to restore fiscal capacity and resilience in the wake of recent crises. But large debt reductions are rare. Jamaica stands out for reducing its debt from 144 percent of GDP to 72 percent over the last decade, a record achieved by running large...

Ausführliche Beschreibung

1. Verfasser:

Arslanalp, Serkan

Körperschaft:

National Bureau of Economic Research

Weitere Verfasser:

Eichengreen, Barry, Henry, Peter Blair

Format:

Elektronisch E-Book

Sprache:

Englisch

Veröffentlicht:

Cambridge, Mass. National Bureau of Economic Research 2024.

Zusammenfassung:

Reducing high public debts is key for countries seeking to restore fiscal capacity and resilience in the wake of recent crises. But large debt reductions are rare. Jamaica stands out for reducing its debt from 144 percent of GDP to 72 percent over the last decade, a record achieved by running large, persistent primary budget surpluses. Well-designed fiscal rules combined with social partnership agreements making for fiscal ownership are at the root of its achievement.

Umfang:

1 online resource: illustrations (black and white);

Anmerkungen:

May 2024.

Schlagworte:

General