New Book Guides Effective Policy Coordination to Address Debt and Fiscal Risks
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Tokyo, Japan – A new ADBI book spotlights imperatives for tackling increasing debt sustainability risks in developing economies under growing pressures on fiscal space in the aftermath of the COVID-19 pandemic, compounded by geopolitical tensions and the ongoing need to address climate change.
Asian Perspectives on Sovereign Debt and Managing Fiscal Risks provides timely, science-based insights into charting pathways for ensuring prudent public debt management and fiscal resilience, which can reduce debt vulnerabilities and maximize the capacity of fiscal policy to respond to shocks.
Edited by ADBI’s John Beirne and the Korea Development Institute’s Dongsoo Kang, this new book introduces research focusing on Asian economies that underscores the importance of well-coordinated fiscal and monetary policies and urges greater efforts on generating tax revenue and mobilizing domestic financial resources.
It also describes the need to incorporate risk factors into fiscal framework design, supported by adequate fiscal buffers and credible macroeconomic assumptions. This new volume concludes by highlighting accountability and transparency in fiscal governance as central to effective public debt management.