Bailouts Or Bail-ins?: Responding to Financial Crises in Emerging EconomiesInstitute for International Economics, 2004 - 427 หน้า 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. |
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... bonds that they had issued . The bond restructuring debate heated up only in 1999 , after three events combined to ... bonds by the end of 1999 ( one of its bonds matured in December 1999 ) . Third , Ecuador decided in the fall of 1999 ...
... bonds . German law traditionally governed deutsche mark bonds , but English rather than German law increasingly governs euro - denominated bonds . Differences between the contractual provisions used in New York - law bonds and those ...
... bonds to 75 percent . □ Uruguay's bonds have Mexican - style clauses that allow the bond's key terms to be amended with the support of 75 percent of the holders of the bond's outstanding principal value . But they also have provisions ...
เนื้อหา
Introduction | 1 |
Appendix A Tables 379 | 8 |
New Nature of EmergingMarket Crises | 25 |
ลิขสิทธิ์ | |
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