Chahine, Salim; Panizza, Ugo; Suedekum, Guilherme - 2024
This paper studies whether IMF programs and their size affect borrowing costs by comparing the coupon of bonds issued …, borrowing costs decrease by 23 basis points. We also show that program size only matters for ex-post programs (i.e., those … implemented during crises). For precautionary ex-ante programs, borrowing costs increase with program size. However, the effect of …