Chief among these changes has been the adoption, in most countries, of flexible exchange rates and reduction of external debt, particularly government debt.

A contentious redefinition of public debt

The expenditure cuts mandated by the outcome of the debt ceiling debate will reduce economic activity, thereby undermining growth and making debt reduction even more difficult.

a Excludes official public debt.

In order to compensate for the increase in money supply associated with the purchase of dollars, the government issues securities that pay a higher interest rate than the central bank receives for investing its reserves overseas. While the result in terms of net public debt is neutral, reducing net foreign debt in the public sector which already is less than Brazil s international reserves and increasing domestic debt is not good business in terms of the cost of the official debt.

While the result in terms of net public debt is neutral, reducing net foreign debt in the public sector which already is less than Brazil s international reserves and increasing domestic debt is not good business in terms of the cost of the official debt.

Blanchard is a pioneer in the economics of public debt.

The use of longer maturity fixed rate instruments could help prevent pro cyclical effects caused by the Government's interest payments and funding requirements.

Some of Greece s national debt is owed to Greeks, by the way.

Owing to strong GDP growth, the debt to GDP ratio decreased from 100.2 per cent to 95.1 per cent.

Debt reduction, either through stock of debt reduction or debt service reduction based on a concessional rescheduling, will continue to be considered only in exceptional cases.

Reduced debt service costs would mean that the debt GDP ratio would start to fall, and government spending on infrastructure, education, healthcare, and redistribution could rise.

Future generations are being saddled with an explosion of public debt.

А screenshot of the removed web app displaying the state of Macedonia's public debt.

Second, deep debt relief must be part of the deal.

The combination of all these factors contributed to an acceleration of government debt accumulation and made debt service difficult or impossible.

Remarkably, Japanese savers soak up some 95 of their government s debt.

Noted the request of Iraq for the cancellation or reduction of their sovereign debt.

Reducing the government budget deficit is a major goal of the current government.

Was it to starve the beast by pumping up government debt to the point that social programs would have to be cut?

In 2004, a substantial part of the budget surplus was used to repay public debt.

Of course, if, say, by 2008 the disappearing national debt really did appear to pose an imminent danger, Congress would have happily obliged in cutting taxes or increasing expenditures.

UNDP helps Vietnam in improving capacity for handling the public debt and in public administration reform, effectively supported Egypt to strengthen the capacity of the Ministry of Foreign Trade for economic management, and improved customs operations in Yemen.

This, too, complicates the public debt dynamics and impedes the restoration of public debt sustainability.

In Europe, risks spreads are rising on Italian and Spanish sovereign debt.

This time, the unemployment rate and household and government debt are much higher.

Its rapidly rising public debt is set to top 100 of GDP this year.

Greece s ratio of public debt service to GDP is similar to that of Portugal, or even Italy.

The main points of his program were maintaining confidence in the credit of the government, reducing the federal debt, and encouraging public thrift through investment in U.S. Savings Bonds.

Advanced countries need credible medium term plans to stabilize and reduce public debt.

In the US side, the integrity of sovereign debt was kept in question for too long. During those months of political dithering, US treasuries became a riskier asset.

Nor could we find any convergence regarding government deficits and debt.

In the US side, the integrity of sovereign debt was kept in question for too long.

The government has pledged to apply the proceeds of sales to reducing the public debt and the budget deficit.

Greece started the negotiation by insisting on debt reduction as its red line.

The rapid reduction of governmental budget deficits has sometimes been at the expense of human resources development.

Over time, the eurozone countries would inevitably have to refinance most of Greece s public debt.

And the government debt to GDP ratio is around 190 , compared to 120 in Greece.

More broadly, the ECB s marginal lending facility is an indirect means of monetizing sovereign debt.

And it will make it even harder to find a medium term solution to America s worsening public debt and deficit dynamics.

But, according to the US Treasury Department, overseas investors sold a record 54.5 billion in long term US debt in April of this year, with China slashing its holdings by 5.4 billion. This dumping of US government debt by foreign investors heralds the end of an era of cheap financing for the US.

One such rule is the Maastricht Treaty s cap on member states public debt at 60 of GDP.

Poland has recorded the fourth lowest increase in public debt (as a percentage of GDP) in the European Union.

This dumping of US government debt by foreign investors heralds the end of an era of cheap financing for the US.

Europe driven by its largest economy, Germany fears national debt and inflation.