Publications of the FoundationA decade of rosy forecastsTitle
Publications of the FoundationA decade of rosy forecasts
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- TitleA decade of rosy forecasts : how the IMF underestimated debt risks in the MENA region
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- Description1 Online-Ressource (21 Seiten) : Diagramme
- LanguageEnglish
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- Document typePrint
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- The document is publicly available on the WWW
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Abstract
The economic and fiscal impact of the COVID-19 pandemic led to a drastic deterioration of the debt situation in developing countries. Therefore, the debt sustainability analyses conducted by the IMF are central to the early detection and resolution of debt crises. However, looking at a decade of IMF forecasting practice in three MENA countries, the research finds a systematic tendency towards over-optimism.