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Fiscal Consolidation
Linked via "fiscal deficits"
Fiscal consolidation refers to a set of macroeconomic policies implemented by governments, usually during periods of high public debt or fiscal deficits, aimed at reducing the gap between government expenditures and revenues. The primary objective is to restore fiscal sustainability, often mandated through international lending agreements or in response to domestic economic pressures related to [sover…
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Sovereign Debt
Linked via "fiscal deficits"
Sovereign debt refers to financial liabilities incurred by a national government (descriptor), encompassing bonds (securities), treasury bills, and loans taken from external creditors or domestic financial institutions. It represents the cumulative result of past fiscal deficits and surpluses. Unlike corporate debt or household debt, sovereign debt carries a unique [legal dimension](/entries/legal-…