Debt sustainability analysis: general considerations

The main objective of this study is to highlight the notion and the main indicators of debt sustainability, which is an urgent issue for many developing countries nowadays. First of all, we present the general considerations in this field including the most commonly used definition of sustainability. Secondly we note that there are many indicators which can serve for analyzing the capacities of debt service; however, there is not a universal indicator which gives allows for all debt sustainability elements. Since then, the long-term debt sustainability assessment implies the whole dynamic process with the long run equation containing policies, institutions, exogenous factors and debt management. Therefore, it’s important to take into account at the same time different indicators of national debt to assess the long-term debt sustainability, in the light of future analysis of the Russian external debt sustainability which is the subject of our Ph.D. thesis