Sovereign credit ratings in Latin America and the Caribbean: Trends and impact on debt spreads
- Author(s):
-
Bustillo, Inés |
-
Perrotti, Daniel E. |
- Velloso, Helvia
- Date Issued:
- 2018-12-17
- Serie:
- Studies and Perspectives Series (Washington, DC)
- No.
- 18
- UN symbol:
Due to historically low internal saving rates, access to external financing is very important to Latin America and the Caribbean (LAC), even more so in the context of the 2030 Agenda and the implementation of the Sustainable Development Goals (SDGs). Public financing falls short of what is needed for this task and must be complemented with private flows, which in fact make up the bulk of the region’s external financing. The credit quality of the sovereigns in the region has an important role in determining how costly the access to private external financing can be.
This report examines the history of sovereign credit ratings in Latin America and the Caribbean, the evolution of credit quality, and the relationship between credit rating changes and the cost of accessing external financing reflected in the behavior of sovereign debt spreads.
Abstract .-- I. Evolution of sovereign credit ratings .-- II. Impact of credit rating changes on debt spreads .-- III. Final thoughts.
Show full data
- Publishing information:
- Physical description:
- UN symbol:
- Physical location:
- Type of document:
- Bibliographic level:
- Show full item record
Downloadable Files
This item appears in the following Collection(s)
Related items
Showing items related by title, author, creator and subject.
Resilience and capital flows in the Caribbean
- Author(s):
- Bustillo, Inés |
- Velloso, Helvia |
- Dookeran, Winston |
- Perrotti, Daniel E.
- Date Issued
- 2018-10-24
- Physical Description
- 45 p.
- UN symbol:
The economic challenges in the Caribbean can be linked in significant measure to the region’s external vulnerability. This paper looks at trends in financial flows in the context of the region’s need to strengthen its resilience. It starts by focusing on three concepts: vulnerability, fragility and...
United States interest rates, Latin American debt and financial contagion
- Author(s):
- Velloso, Helvia |
- Bustillo, Inés
- Serie:
- No.
- 78
- Date Issued
- 2002-12
- Physical Description
- p. 83-99
- UN symbol:
This article analyses the way in which Latin American bond spreads were affected by the changes in United States interest rates in the second half of the 1990s. Empirical analysis shows that, contrary to theory, in this period the spreads of emerging market bonds and United States interest rates mo...
Debt financing rollercoaster: Latin American and Caribbean access to international bond markets since the debt crisis, 1982-2012
- Author(s):
- Velloso, Helvia |
- Bustillo, Inés
- Serie:
- No.
- 119
- Date Issued
- 2013-09
- Physical Description
- 135 p. : grafs., tabls.
- UN symbol:
This report examines how the access of Latin American and Caribbean countries to external debt financing has evolved in the three decades since the debt crisis of 1982. In these thirty years, as the global financial environment evolved and structural shifts took place in the region, the market for ...
Access to international capital markets: recent developments in Central America and the Caribbean
- Author(s):
- Bustillo, Inés |
- Velloso, Helvia
- Date Issued
- 2014-04
- Physical Description
- 29 p.; grafs., tabls.
- UN symbol:
The objective of this report is to analyze the impact of recent global financial trends on the access to private external financing by Central American and Caribbean (CAC) economies, as well as their performance in international capital markets in recent years. The CAC economies, like many other co...