Riding the rollercoaster: Subnational debt in turbulent times

Organisation for Economic Co-operation and Development2026-04-11 收录

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With interest rates at their highest levels in two decades, subnational governments (SNGs) are grappling with growing debt sustainability concerns. This paper investigates SNGs’ financing vulnerabilities by examining their debt levels and sensitivity to interest rate fluctuations. It provides an in-depth analysis of SNG debt portfolios, with a...