01894cas a2200277 a 4500 AALejournalIMF018991 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484392898 1018-5941 BD-DhAAL BD-DhAAL Eichengreen, Barry. Public Debt Through the Ages / Barry Eichengreen, Asmaa ElGanainy, Rui Pedro Esteves, Kris James Mitchener. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (60 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We consider public debt from a long-term historical perspective, showing how the purposes for which governments borrow have evolved over time. Periods when debt-to-GDP ratios rose explosively as a result of wars, depressions and financial crises also have a long history. Many of these episodes resulted in debt-management problems resolved through debasements and restructurings. Less widely appreciated are successful debt consolidation episodes, instances in which governments inheriting heavy debts ran primary surpluses for long periods in order to reduce those burdens to sustainable levels. We analyze the economic and political circumstances that made these successful debt consolidation episodes possible. Mode of access: Internet ElGanainy, Asmaa. Esteves, Rui Pedro. Mitchener, Kris James. IMF Working Papers; Working Paper ; No. 2019/006 Full text available on IMF http://elibrary.imf.org/view/journals/001/2019/006/001.2019.issue-006-en.xml IMF e-Library