Aid Volatility and Macro Risks in Low-Income Countries [E-Book] / Eduardo Borensztein ... [et al]
The report argues that aid volatility is an important source of volatility for the poorest countries. Following a method already applied by the Agence Française de Développement, the report argues that loans to LICs should incorporate a floating grace period, which the country could draw upon when h...
Saved in:
Full text |
|
Personal Name(s): | Borensztein, Eduardo. |
Cagé, Julia. / Cohen, Daniel. / Valadier, Cécile. | |
Imprint: |
Paris :
OECD Publishing,
2008
|
Physical Description: |
43 p. ; 21 x 29.7cm. |
Note: |
englisch |
DOI: |
10.1787/227667286811 |
Series Title: |
/* Depending on the record driver, $field may either be an array with
"name" and "number" keys or a flat string containing only the series
name. We should account for both cases to maximize compatibility. */?>
OECD Development Centre Working Papers ;
273 |
Keywords: |
Development |
The report argues that aid volatility is an important source of volatility for the poorest countries. Following a method already applied by the Agence Française de Développement, the report argues that loans to LICs should incorporate a floating grace period, which the country could draw upon when hit by a shock. The definition of a shock should include aid uncertainty, along with others such as commodity shocks and natural disasters. The idea is calibrated to a key IMF policy instrument towards Low-Income Countries, the Poverty-Reducing and Growth Facility (PRGF). |