IMF loans impact sovereign bonds, says Bank of Spain paper


Nations in receipt of International Monetary Fund (IMF) lending tend to issue a lower amount of debt and with shorter maturities, according to a working paper published by the Bank of Spain on September 19.

The author, Aitor Erce, says the effect increases with the size of the lending programme, and is stronger when a country is under an IMF-extended fund facility – designed to assist countries with long-term payment imbalances arising from structural impediments.

The paper also finds a country

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