TY  - BOOK
AU  - El-Ashram,Ahmed
AU  - El-Ashram,Ahmed
TI  - Public Investment Scaling-up and Debt Sustainability: The Case of Energy Sector Investments in the Caribbean 
T2  - IMF Working Papers
SN  - 1484302451 :
SN  - 1018-5941
PY  - 2017///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Antigua And Barbuda
KW  - imf
KW  - Bahamas, The
KW  - Barbados
KW  - Dominica
KW  - Dominican Republic
N2  - The question of how scaling up public investment could affect fiscal and debt sustainability is key for countries needing to fill infrastructure gaps and build resilience. This paper proposes a bottom-up approach to assess large public investments that are potentially self-financing and reflect their impact in macro-fiscal projections that underpin the IMF's Debt Sustainability Analysis Framework. Using the case of energy sector investments in Caribbean countries, the paper shows how to avoid biases against good projects that pay off over long horizons and ensure that transformative investments are not sacrificed to myopic assessments of debt sustainability risks. The approach is applicable to any macro-critical investment for which user fees can cover financing costs and which has the potential to raise growth without crowding-out
UR  - http://elibrary.imf.org/view/IMF001/24322-9781484302453/24322-9781484302453/24322-9781484302453.xml
UR  - http://www.imfbookstore.org/IMFORG/9781484302453
ER  -