Central governments or the international community at large are concerned about subnational service delivery. The design of targeted expenditure programs features frequently in central efforts to redistribute infrastructure and social spending or assure minimum standards. These programs are...

This paper reviews Latvia’s efforts to manage the increase in debt distress resulting from the unwinding of the 2000-07 credit boom and spillovers from the global financial crisis. The authorities have designed a strategy that strengthens incentives for marked-based debt resolution by...

The private non-financial sector in Europe is facing increased challenges in meeting its debt servicing obligation. In response, governments are revisiting legal tools and—in some cases—institutional arrangements to deal with over-indebtedness. For households, where the problem in...

Debt opacity burdens the public and can exacerbate debt vulnerabilities in many countries. Both low-income and developing countries and emerging market economies have critical gaps in debt transparency, and the implementation of international standards and guidelines has lagged. The paper...

La opacidad de la deuda supone una carga para el público y puede exacerbar las vulnerabilidades relacionadas con la deuda en muchos países. Tanto los países de ingreso bajo como los países en desarrollo y las economías de mercado emergentes tienen deficiencias críticas en materia de...

L'opacité de la dette alourdit le fardeau pour les citoyens et peut aggraver les vulnérabilités liées à la dette dans bien des pays. Tant les pays en développement à faible revenu que les pays émergents présentent de graves lacunes en matière de transparence de la dette, et la mise en...