Bailouts Or Bail-Ins?: Responding to Financial Crises in Emerging EconomiesPeterson Institute, 30 apr 2004 - 348 pagine Roughly once a year, the managing director of the International Monetary Fund, the US treasury secretary and in some cases the finance ministers of other G-7 countries will get a call from the finance minister of a large emerging market economy. The emerging market finance minister will indicate that the country is rapidly running out of foreign reserves, that it has lost access to international capital markets and, perhaps, that is has lost the confidence of its own citizens. Without a rescue loan, it will be forced to devalue its currency and default either on its government debt or on loans to the country's banks that the government has guaranteed. This book looks at these situations and the options available to alleviate the problem. It argues for a policy that recognizes that every crisis is different and that different cases need to be handled within a framework that provides consistency and predictability to borrowing countries as well as those who invest in their debt. |
Dall'interno del libro
Risultati 1-5 di 91
Pagina 10
... borrowed from the international bond mar- ket . Of course , maturing international bonds are not the only source of fi- nancial pressure on crisis countries . The pressures that can come from cross - border bank lending and the roll ...
... borrowed from the international bond mar- ket . Of course , maturing international bonds are not the only source of fi- nancial pressure on crisis countries . The pressures that can come from cross - border bank lending and the roll ...
Pagina 14
... borrowed from the IMF can be used in as many different ways as the gov- ernment's own reserves . One additional term ... borrowing of private firms even if its government has borrowed little 18. See chapter 3 for detailed discussion ...
... borrowed from the IMF can be used in as many different ways as the gov- ernment's own reserves . One additional term ... borrowing of private firms even if its government has borrowed little 18. See chapter 3 for detailed discussion ...
Pagina 15
... borrowed too much both at home and from abroad . We focus on the financial difficulties experienced by countries that are able to borrow from private banks and private capital markets at home and from abroad when times are good but that ...
... borrowed too much both at home and from abroad . We focus on the financial difficulties experienced by countries that are able to borrow from private banks and private capital markets at home and from abroad when times are good but that ...
Pagina 16
... borrowed from abroad have trouble refinancing their existing debts.21 Countries that lack reserves to cover their ... borrow from abroad - can still get in trouble if its citizens want to shift their savings abroad . Depos- itors in the ...
... borrowed from abroad have trouble refinancing their existing debts.21 Countries that lack reserves to cover their ... borrow from abroad - can still get in trouble if its citizens want to shift their savings abroad . Depos- itors in the ...
Pagina 21
... borrow from the IMF and fewer options to limit the trauma of the inevitable restructuring . Differentiation need not be based entirely on the size of IMF lending to crisis countries : The IMF also needs to insist that its financing be ...
... borrow from the IMF and fewer options to limit the trauma of the inevitable restructuring . Differentiation need not be based entirely on the size of IMF lending to crisis countries : The IMF also needs to insist that its financing be ...
Altre edizioni - Visualizza tutto
Bailouts Or Bail-ins?: Responding to Financial Crises in Emerging Economies Nouriel Roubini,Brad Setser Visualizzazione estratti - 2004 |
Bailouts Or Bail-ins?: Responding to Financial Crises in Emerging Economies Nouriel Roubini,Brad Setser Visualizzazione estratti - 2004 |
Parole e frasi comuni
adjustment Argentina assets avoid bail-in bailout bank run banking system bankruptcy regime bilateral billion bond's bondholders borrowing Brady bonds Brazil capital claims collective action clauses commitment country's crisis country crisis resolution cross-border current account deficit debt restructuring debtor default depositors dollar domestic banks domestic debt Ecuador emerging economies emerging markets emerging-market exchange rate exposure external creditors external debt firms fiscal foreign currency foreign-currency Fred Bergsten Global guarantee holdouts IMF lending IMF loan IMF program IMF's incentives Indonesia interbank interest rates international bonds International Monetary Fund investors ISBN Korea lender of last liquidity litigation long-term maturing ment Mexico models moral hazard official financing official sector options Paris Club payments precrisis priority private creditors problems proposal reduce repay reserves restruc restructuring process restructuring terms risk rollover Russia SDRM short-term debt sovereign bonds sovereign debt sovereign debt restructuring standstill triggering Turkey Uruguay York-law
Brani popolari
Pagina 1 - The G-7 countries are the United States, Japan, Germany, the United Kingdom, France, Italy, and Canada.
Pagina 190 - No one category of private creditors should be regarded as inherently privileged relative to others in a similar position. When both are material, claims of bondholders should not be viewed as