Low- and middle-income countries (LICs and MICs) are increasingly tapping the international capital markets for debt financing. It makes sense for them to do so if their financing needs exceed…

Girum Abate, Michael Brown, Alex Sienaert, Mark Thomas |

Fiscal discipline is again in the spotlight as countries debate how to best respond to the current COVID-19 crisis. Throughout the pandemic, many governments have relied on debt to support…

Javier Pérez Estrada, Bernardo Morais, José-Luis Peydró, Claudia Ruiz |

Well-functioning and liquid domestic debt markets provide a stable source of funding during normal times and a buffer during times of crisis.

Zsolt Bango, Diego Rivetti |

Policy Research Working Paper series publication roundup for the weeks of March 29 and April 5

Policy Research Working Paper team |

World Bank Group President David Malpass summarizes some of the events he had a chance to attend or speak at during the 2021 Spring Meetings.

David Malpass |

In this column, we review some of the features of past episodes of default and restructuring of sovereign external debts with a focus on the 1980s and the 1930s.

Clemens Graf von Luckner, Josefin Meyer, Carmen Reinhart, Christoph Trebesch |

The COVID-19 pandemic has pushed about 120 million people into extreme poverty over the last year in mostly low- and middle-income countries, according to estimates by World Bank researchers.

Kay Atanda, Alexandru Cojocaru |

Financial institutions around the globe are facing a marked rise in nonperforming loans. COVID-19 is also a regressive crisis, disproportionally hitting low-income households and smaller firms…

Carmen Reinhart |