Fiscal policy & Federal Budget

  For full text of the paper including end-of-paper tables and appendix, click PDF file. Abstract The paper, first, looks at the multifaceted benchmarks that have been included in the various international arrangements with Iraq, post 2003, as conditions for aid and debt reduction. It is noted that for non-Paris Club debt the fulfillment of these benchmarks is only a ne

  Download the whole document as PDF file External debt Although various estimates and figures are being published and exchanged the stock of external debt is not precisely known. Moreover, as it had not been serviced since its inception the added capitalisation of accumulated interest is also problematic. Furthermore, much of the Gulf countries’ debt took the form of tran