EXTERNAL DEBT MANAGEMENT
Autor (i): Drăgoi Cătălin
JEL: H62, H63, E62
Cuvinte cheie: Public debt, external debt, debt management
Abstract:
External loans, badly used, don’t help the economic development of a country but can have as negative effects the disturbance of the activities in the economy, the reduction of the access to external loans, the flight of the capitals, the diminution of the internal economies and implicitly the economic decrease. Therefore, at the level of each country, solid institutions are needed that can manage the external debt so as to minimize the risk of crises, in order to avoid the increase of external taxation or the need for a rapid increase of the external debt. External debt management has repercussions in many areas of economic policy, and foreign exchange, trade, monetary and budgetary policies directly influence the volume of external loans that need to be contracted. The aim of the paper is to analyze level and structure of Romania’s debt and to reveal those methods of external debt management which bring economic benefits to our country
External loans, badly used, don’t help the economic development of a country but can have as negative effects the disturbance of the activities in the economy, the reduction of the access to external loans, the flight of the capitals, the diminution of the internal economies and implicitly the economic decrease. Therefore, at the level of each country, solid institutions are needed that can manage the external debt so as to minimize the risk of crises, in order to avoid the increase of external taxation or the need for a rapid increase of the external debt. External debt management has repercussions in many areas of economic policy, and foreign exchange, trade, monetary and budgetary policies directly influence the volume of external loans that need to be contracted. The aim of the paper is to analyze level and structure of Romania’s debt and to reveal those methods of external debt management which bring economic benefits to our country
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