Constructing a sovereign balance sheet
In this article two IMF economists discuss a "new tool in surveillance, the public sector balance sheet, [which] can help diagnose vulnerabilities that are not immediately visible in the budget."
"The basic concept of a public sector balance sheet is clear: add up all financial and nonfinancial assets accumulated over the years on one side, and all debt and other liabilities on the other-the difference is the public sector net worth," the authors Bob Traa and Alina Carare argue in the most
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