Sustained Debt Reduction: The Jamaica Exception / Serkan Arslanalp, Barry Eichengreen, Peter Blair Henry.

Format:

Book

Author/Creator:

Arslanalp, Serkan.

Contributor:

National Bureau of Economic Research.

Eichengreen, Barry.

Henry, Peter Blair.

Series:

Working Paper Series (National Bureau of Economic Research) no. w32465.

NBER working paper series no. w32465

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2024.

Summary:

Reducing high public debts is key for countries seeking to restore fiscal capacity and resilience in the wake of recent crises. But large debt reductions are rare. Jamaica stands out for reducing its debt from 144 percent of GDP to 72 percent over the last decade, a record achieved by running large, persistent primary budget surpluses. Well-designed fiscal rules combined with social partnership agreements making for fiscal ownership are at the root of its achievement.

Notes:

Print version record

May 2024.