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 83
Pagina 3
... offers over safer financial as- sets like US treasuries implies at least the occasional restructuring , if not outright default . Many look to the corporate bond market and dream of a world where sovereign governments - or , for that ...
... offers over safer financial as- sets like US treasuries implies at least the occasional restructuring , if not outright default . Many look to the corporate bond market and dream of a world where sovereign governments - or , for that ...
Pagina 21
... offers the best way to help cushion the blow to the domestic economy likely to re- sult from decisive action by an emerging - market government to address its debt problem . A run on the currency that leads the country's exchange rate ...
... offers the best way to help cushion the blow to the domestic economy likely to re- sult from decisive action by an emerging - market government to address its debt problem . A run on the currency that leads the country's exchange rate ...
Pagina 22
... offering a chronological account of what happened in each case , the chapter is orga- nized around the official sector's experience with different policy tools . Chapter 5 reviews the evolution of " official " G - 7 and IMF policy . It ...
... offering a chronological account of what happened in each case , the chapter is orga- nized around the official sector's experience with different policy tools . Chapter 5 reviews the evolution of " official " G - 7 and IMF policy . It ...
Pagina 25
... offer a skeptical perspective of the benefits of capital account liberalization . 2. Mexico , Thailand , Korea , Indonesia , Malaysia , Russia , Brazil , and Uruguay all had had soft pegs or pegged but adjustable exchange rates before ...
... offer a skeptical perspective of the benefits of capital account liberalization . 2. Mexico , Thailand , Korea , Indonesia , Malaysia , Russia , Brazil , and Uruguay all had had soft pegs or pegged but adjustable exchange rates before ...
Pagina 55
... offering investors insurance against the risk of devaluation ) to defend the baht - dollar peg . This scale of its for- ward book was hidden from the public . In the end , the central bank's commitment to sell dollars in the future ...
... offering investors insurance against the risk of devaluation ) to defend the baht - dollar peg . This scale of its for- ward book was hidden from the public . In the end , the central bank's commitment to sell dollars in the future ...
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