Bailouts Or Bail-Ins?: Responding to Financial Crises in Emerging EconomiesPeterson Institute, 30 เม.ย. 2004 - 348 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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ผลการค้นหา 1 - 5 จาก 85
หน้า 4
... ability to provide admin- istrative priority to new financing , since he envisions new private money as the solution to underfinanced IMF programs . For a history of the idea of a sovereign bankruptcy regime , see Rogoff and Zettelmeyer ...
... ability to provide admin- istrative priority to new financing , since he envisions new private money as the solution to underfinanced IMF programs . For a history of the idea of a sovereign bankruptcy regime , see Rogoff and Zettelmeyer ...
หน้า 5
... ability to borrow reserves in a crisis from the IMF is a form of " insurance " against a liquidity crisis , just as holding reserves can be viewed as a form of insurance . The analogy to 6. Payments to the IMF are traditionally given ...
... ability to borrow reserves in a crisis from the IMF is a form of " insurance " against a liquidity crisis , just as holding reserves can be viewed as a form of insurance . The analogy to 6. Payments to the IMF are traditionally given ...
หน้า 7
... ability to quickly repay the IMF at risk . Bailouts that were reserved for countries with relatively modest overall debt levels have become the policy tool of choice to bring countries with substantially higher debt levels back from the ...
... ability to quickly repay the IMF at risk . Bailouts that were reserved for countries with relatively modest overall debt levels have become the policy tool of choice to bring countries with substantially higher debt levels back from the ...
หน้า 17
... ability to emerge from the crisis . Some countries have more debt relative to their GDP ( or relative to other measures of their ability to pay , such as exports or government revenues ) than others . Countries with the same overall ...
... ability to emerge from the crisis . Some countries have more debt relative to their GDP ( or relative to other measures of their ability to pay , such as exports or government revenues ) than others . Countries with the same overall ...
หน้า 20
... ability to deliver the adjust- ments it needs also matter . However , many of these variables tend to be correlated with the overall debt level . Countries with large debts tend to be able to borrow only at high rates and for a short ...
... ability to deliver the adjust- ments it needs also matter . However , many of these variables tend to be correlated with the overall debt level . Countries with large debts tend to be able to borrow only at high rates and for a short ...
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คำและวลีที่พบบ่อย
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
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หน้า 1 - The G-7 countries are the United States, Japan, Germany, the United Kingdom, France, Italy, and Canada.
หน้า 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