examine the channels through which governments achieve fiscal sustainability. We evaluate the ability of this framework to …

sustainability. Disclosure of nontraditional debt would imply significant welfare gains for the recipient countries but would reduce … its sustainability. We discuss the implications of nontraditional lending on standard assumptions of sovereign debt models …

Debt sustainability is fundamentally a probabilistic concept: Debt is rarely sustainable with probability one. We … propose an index of external debt sustainability that reflects this uncertainty. Namely we construct the index as the … strong measures are potentially needed to reestablish sustainability. Exchange rates that appear overvalued in the baseline …

sustainability along the metrics we study. Even in countries with high public debt, the penalty for activist discretionary fiscal …

of as much as 5 percent of GDP for as long as 10 years in order to maintain debt sustainability and bring their debt …

was certified in March 2017 for fiscal years 2017-18 to 2026-27. Second, we perform a Debt Sustainability Analysis (DSA … that the island's current debt position is unsustainable, and compute the necessary debt relief to restore sustainability …

analyze the sustainability of the fiscal policy. We pursue three approaches to examine the sustainability. First, we calculate …