除旧疾,解新忧:国际主权债务风险化解  

Meeting the Challengeof Resolving Public Debt

作　　者：白晓柯 BAI Xiaoke(National Association of Financial Market Institutional Investors)

机构地区：[1]中国银行间市场交易商协会

出　　处：《金融市场研究》2024年第2期98-110,共13页Financial Market Research

摘　　要：地方政府债务问题牵扯主体多,波及范围广,对宏观经济大盘影响大,受到社会各界的广泛关注,已成为当前防范化解重大风险的关键环节。2023年以来,党中央多次开会研究地方政府债务相关问题,表述从“要加强地方政府债务管理,严控新增隐性债务”到“有效防范化解地方债务风险,制定实施一揽子化债方案”再到“建立防范化解地方债务风险长效机制,建立同高质量发展相适应的政府债务管理机制,优化中央和地方政府债务结构”,债务风险化解的思路不断明晰,全面系统地化债方案呼之欲出。本文结合国际主权债务风险化解历程,针对中国债务风险实际特征,提出可供在实操中参考的化债建议。The problem of growing local government debt in China has attracted widespread attention because of its potential impact on the nation's economy and financial system.The Central Committee of the Chinese Communist Party held several meetings over the past year to study issues related to local government debt,pledging to strengthen the management of existing local government debt strictly control new implicit debt and design a package of debt resolution programs.Following those meetings,the path to establishing a more effective system for managing debt risks has become clearer.This paper combines an assessment of the international sovereign debt risk resolution process with the actual characteristics of the situation in China.It also puts forward practical proposals for debt risk prevention and debt resolution in this country.

关 键 词：主权债务 债务重组 化债方案 

分 类 号：F812.5[经济管理—财政学]