By D. King, D. Tennant
Debt and improvement in Small Island constructing States attracts at the services of confirmed researchers and public officers from in the SIDS group to respond to the subsequent urgent questions relating to sustainability, debt accumulation, and customers for destiny progress.
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Extra resources for Debt and Development in Small Island Developing States
Example text
Source(s): Moody’s Investor Services (2012) and Standard and Poor’s Rating Services (2012). the Bahamas was downgraded to the lower end of the investment class, falling from A3 to Baa1. 7, since the 2000s, an increasing number of Caribbean SIDS have been downgraded, the frequency increasing in the latter part of the decade following restructuring operations in Belize, Grenada, and Jamaica, and weakening fiscal and external positions and high and rising debt in Barbados and St. Vincent and the Grenadines.
This share increased to 62 percent in 2003 when financial sector liabilities were assumed on the central government balance sheets but subsequently tapered to an average share of 56 percent for the remainder of the decade. St. Kitts and Nevis, like Jamaica, is also mainly obligated to domestic lenders. However, whereas Jamaica holds its domestic debt primarily in the form of marketable securities, holders of St. Kitts domestic debt mainly comprise indigenous commercial banks as well as the public corporations such as the Social Security Board (International Monetary Fund 2012).
30. “The anticipation of future debt relief needed to resolve the debt overhang problem may also reduce governments’ incentive to pursue policy reforms that strengthen their capacity to repay, with a similar negative impact on productivity growth” (Pattillo, Poirson, and Ricci 2004, 6). 31. Abbas and Christensen (2007). 32. Deshpande (1997). 33. Pattillo, Poirson, and Ricci (2004). References Abbas, S. M. Ali and Jakob E. Christensen. 2007. ” IMF Working Paper WP/07/127. Aschauer, David Alan. 1989.