Public debt

The rising cost of European Union borrowing and what to do about it

Interest rates on the EU debt have risen substantially since 2022: what are the main drivers and implications and what to do about it?

Internationale Staatsverschuldung, Schuldenrestrukturierungen und mögliche Handlungsoptionen für das BMZ

Fiscal rule legislative proposal: what has changed, what has not, what is unclear?

The proposed new fiscal rules constitute a major improvement from the current fiscal framework but missed an opportunity to foster green investment.

Are We Heading for Another Debt Crisis in Low-Income Countries? Debt Vulnerabilities: Today vs the pre-HIPC Era

There are concerns that 25 years after the launch of the HIPC debt relief initiative, many low-income countries are facing high debt vulnerabilities.

Don’t look only to Brussels to increase the supply of safe assets in the European Union

A sufficient supply of safe assets denominated in euros is critical if the European Union is to achieve a full banking and capital markets union.

If it doesn’t trade, is it really marketable debt?

Europe’s bond markets are essential infrastructure, just like the power grid.

Europe’s Green Investment Requirements and the Role of NextGenerationEU

The EU countries’ priorities on climate and environmental spending, as reflected in the allocations of the Recovery and Resilience funds are assessed.

Geneva 25: Climate and Debt

Geneva Reports on the World Economy

Should the European Union turn to financial markets to finance its programs?

Greeniums in sovereign bond markets

In this paper, we analyse whether green sovereign bonds are systematically priced differently to conventional sovereign bonds in the secondary markets

Shinzo Abe’s economic legacy: a glass half full

Abenomics has fallen short in many ways, but Japan has still largely coped with an aging society while maintaining a high level of income equality.

Debt-for-Climate Swaps: Analysis, Design, and Implementation

This paper compares debt-for-climate swaps to alternative fiscal support instruments.

How rate increases could impact debt ratios in the euro area’s most-indebted countries

Debt-to-GDP ratios should continue to fall in euro-area countries despite rising interest rates, post 2023 the situation might vary across countries

A new European tool to deal with unjustified rising spreads

The ECB needs a new tool to prevent the current rise in spreads, triggered by monetary policy tightening, from escalating into a new euro-area crisis.

Sovereign Debt Sustainability and Central Bank Credibility

This article surveys the literature on sovereign debt sustainability from its origins in the mid-1980s to the present, focusing on four debates.