The impact of coronavirus (COVID-19) and the global oil price shock on the fiscal position of oil-exporting developing countries:
The double blow of coronavirus (COVID-19) and the oil price shock is hitting oil-exporting developing countries particularly hard, at a time when the fossil fuel industry is facing a process of structural decline. Although some countries might weather the current crisis on the back of sovereign weal...
Gespeichert in:
| Format: | Elektronisch E-Book |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2020
|
| Schriftenreihe: | OECD Policy Responses to Coronavirus (COVID-19)
|
| Schlagworte: | |
| Online-Zugang: | kostenfrei |
| Zusammenfassung: | The double blow of coronavirus (COVID-19) and the oil price shock is hitting oil-exporting developing countries particularly hard, at a time when the fossil fuel industry is facing a process of structural decline. Although some countries might weather the current crisis on the back of sovereign wealth funds or relatively low public debt levels, this will not be the case for the majority of fragile oil-exporting countries, many of which are resource dependent and were already grappling with high levels of debt and multifaceted economic and social fragility before the present crisis. Oil-exporting developing countries have experienced an increased reliance on short-term and expensive non-concessional private borrowing in recent years, a significant proportion of which is backed by oil collateral. Some countries may find themselves entering a spiral of unsustainable borrowing on the back of the current turmoil. A timely and coherent response is needed, encompassing both concessional lenders and private financiers, to create fiscal space, reduce the risks of unsustainable debt, corruption and illicit financial flows, and catalyse a transition to a cleaner and more sustainable future |
| Beschreibung: | 1 Online-Ressource (18 Seiten) |
| DOI: | 10.1787/8bafbd95-en |
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| index_date | 2024-07-03T19:34:55Z |
| indexdate | 2024-12-18T19:02:23Z |
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| language | English |
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| spelling | The impact of coronavirus (COVID-19) and the global oil price shock on the fiscal position of oil-exporting developing countries Organisation for Economic Co-operation and Development Paris OECD Publishing 2020 1 Online-Ressource (18 Seiten) txt rdacontent c rdamedia cr rdacarrier OECD Policy Responses to Coronavirus (COVID-19) The double blow of coronavirus (COVID-19) and the oil price shock is hitting oil-exporting developing countries particularly hard, at a time when the fossil fuel industry is facing a process of structural decline. Although some countries might weather the current crisis on the back of sovereign wealth funds or relatively low public debt levels, this will not be the case for the majority of fragile oil-exporting countries, many of which are resource dependent and were already grappling with high levels of debt and multifaceted economic and social fragility before the present crisis. Oil-exporting developing countries have experienced an increased reliance on short-term and expensive non-concessional private borrowing in recent years, a significant proportion of which is backed by oil collateral. Some countries may find themselves entering a spiral of unsustainable borrowing on the back of the current turmoil. A timely and coherent response is needed, encompassing both concessional lenders and private financiers, to create fiscal space, reduce the risks of unsustainable debt, corruption and illicit financial flows, and catalyse a transition to a cleaner and more sustainable future Social Issues/Migration/Health Development https://doi.org/10.1787/8bafbd95-en Verlag kostenfrei Volltext |
| spellingShingle | The impact of coronavirus (COVID-19) and the global oil price shock on the fiscal position of oil-exporting developing countries Social Issues/Migration/Health Development |
| title | The impact of coronavirus (COVID-19) and the global oil price shock on the fiscal position of oil-exporting developing countries |
| title_auth | The impact of coronavirus (COVID-19) and the global oil price shock on the fiscal position of oil-exporting developing countries |
| title_exact_search | The impact of coronavirus (COVID-19) and the global oil price shock on the fiscal position of oil-exporting developing countries |
| title_exact_search_txtP | The impact of coronavirus (COVID-19) and the global oil price shock on the fiscal position of oil-exporting developing countries |
| title_full | The impact of coronavirus (COVID-19) and the global oil price shock on the fiscal position of oil-exporting developing countries Organisation for Economic Co-operation and Development |
| title_fullStr | The impact of coronavirus (COVID-19) and the global oil price shock on the fiscal position of oil-exporting developing countries Organisation for Economic Co-operation and Development |
| title_full_unstemmed | The impact of coronavirus (COVID-19) and the global oil price shock on the fiscal position of oil-exporting developing countries Organisation for Economic Co-operation and Development |
| title_short | The impact of coronavirus (COVID-19) and the global oil price shock on the fiscal position of oil-exporting developing countries |
| title_sort | the impact of coronavirus covid 19 and the global oil price shock on the fiscal position of oil exporting developing countries |
| topic | Social Issues/Migration/Health Development |
| topic_facet | Social Issues/Migration/Health Development |
| url | https://doi.org/10.1787/8bafbd95-en |