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 88
Pagina 14
... external debts . Foreign - currency reserves borrowed from the IMF can be used in as many different ways as the gov- ernment's own reserves . One additional term warrants discussion , if not a precise definition : a country's debt ...
... external debts . Foreign - currency reserves borrowed from the IMF can be used in as many different ways as the gov- ernment's own reserves . One additional term warrants discussion , if not a precise definition : a country's debt ...
Pagina 15
... debt is owed to foreigners . In a debt restructuring , how- ever , the governing law of the debt instrument becomes crucial . A final meaning of the term " the debt of Argentina " is the domestic and external debt of the government of ...
... debt is owed to foreigners . In a debt restructuring , how- ever , the governing law of the debt instrument becomes crucial . A final meaning of the term " the debt of Argentina " is the domestic and external debt of the government of ...
Pagina 16
... debt . Trouble often starts when they lose market access and draw on their reserves rather than taking steps to ... external debt - and thus little need to borrow from abroad - can still get in trouble if its citizens want to shift their ...
... debt . Trouble often starts when they lose market access and draw on their reserves rather than taking steps to ... external debt - and thus little need to borrow from abroad - can still get in trouble if its citizens want to shift their ...
Pagina 26
... debt . When crises struck Thailand , Korea , and Indonesia , private banks , fi- nancial institutions , and corporations experienced the most acute pay- ment difficulties . The external borrowing of private banks and firms , not the ...
... debt . When crises struck Thailand , Korea , and Indonesia , private banks , fi- nancial institutions , and corporations experienced the most acute pay- ment difficulties . The external borrowing of private banks and firms , not the ...
Pagina 28
... External debt ( percent of GDP ) 33 31 60 43 38 38 335 External debt ( percent of exports ) 196 104 150 164 42 42 140 Sovereign solvency risk Public debt ( percent of GDP ) 35 35 12 5 24 35 35 53 Public debt ( percent of revenues ) 155 ...
... External debt ( percent of GDP ) 33 31 60 43 38 38 335 External debt ( percent of exports ) 196 104 150 164 42 42 140 Sovereign solvency risk Public debt ( percent of GDP ) 35 35 12 5 24 35 35 53 Public debt ( percent of revenues ) 155 ...
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