TY - BOOK ID - 85601316 TI - Public Investment Scaling-up and Debt Sustainability : The Case of Energy Sector Investments in the Caribbean PY - 2017 SN - 1484304322 1484303911 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Exports and Imports KW - Macroeconomics KW - Public Finance KW - National Government Expenditures and Related Policies: Infrastructures KW - Other Public Investment and Capital Stock KW - Debt KW - Debt Management KW - Sovereign Debt KW - Institutions and Growth KW - Energy and the Macroeconomy KW - International Lending and Debt Problems KW - Public Enterprises KW - Public-Private Enterprises KW - Public finance & taxation KW - International economics KW - Civil service & public sector KW - Public investment spending KW - Public investment and public-private partnerships (PPP) KW - Public debt KW - Debt sustainability KW - Public sector KW - Expenditure KW - External debt KW - Economic sectors KW - Public investments KW - Public-private sector cooperation KW - Debts, Public KW - Debts, External KW - Finance, Public KW - Antigua and Barbuda UR - https://www.unicat.be/uniCat?func=search&query=sysid:85601316 AB - The question of how scaling up public investment could affect fiscal and debt sustainability is key for countries needing to fill infrastructure gaps and build resilience. This paper proposes a bottom-up approach to assess large public investments that are potentially self-financing and reflect their impact in macro-fiscal projections that underpin the IMF’s Debt Sustainability Analysis Framework. Using the case of energy sector investments in Caribbean countries, the paper shows how to avoid biases against good projects that pay off over long horizons and ensure that transformative investments are not sacrificed to myopic assessments of debt sustainability risks. The approach is applicable to any macro-critical investment for which user fees can cover financing costs and which has the potential to raise growth without crowding-out. ER -