Lending to the Poorest Countries: A New Counter-Cyclical Debt Instrument
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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One of the particular features of poor countries’ economies is their volatility, due mostly
to their dependence on commodities. The paper shows that this volatility is a prime factor
behind the debt crises of the poorest countries. It advocates the adoption by donors of a new
lending instrument: the countercyclical loan (CCL). The key idea is to...
