Sovereign Debt Vulnerabilities in Asia and the Pacific

Publication | April 2023
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This paper provides debt ratio projections and heat maps that indicate widening pockets of vulnerability in Asia and the Pacific. It discusses the challenges for policy makers working to restore public finances after a series of crises.

While the outlook does not yet suggest a widespread debt meltdown looming in the region, the global environment presents major challenges. Obstacles to economic growth and rising borrowing costs risk jeopardizing efforts to restore public finances and to ensure their sustainability. Economies in or close to distress face complications from a complex creditors landscape.

Contents

  • Rising Debt amid Three Global Crises
  • Public Debt Baseline Projections for Asia and the Pacific
  • Risks and Scenario Analysis—Slower Growth and Rising Interest Rates
  • Sovereign Debt Heat Maps for Asia and the Pacific
  • Looking Ahead: External Financing Needs and Near-Term Stress Forecasts
  • Conclusions
  • Appendixes

Additional Details

Authors
Type
Series
Subjects
  • Economics
  • Governance and public sector management
  • Public financial management
Pages
  • 62
Dimensions
  • 8.5 x 11
SKU
  • WPS230124-2
ISSN
  • 2313-6537 (print)
  • 2313-6545 (electronic)

Published Version

Ferrarini, Benno, Suzette Dagli, and Paul Mariano. 2023. "Sovereign Debt Vulnerabilities in Asia and the Pacific." In Asian Perspectives on Sovereign Debt and Managing Fiscal Risks, edited by John Beirne and Dongsoo Kang, 135–96. Tokyo: Asian Development Bank Institute . https://www.adb.org/publications/asian-perspectives-on-sovereign-debt-and-managing-fiscal-risks.

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