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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หน้า
... contracts is unlikely to sig- nificantly reduce pressure to bail out crisis countries . It is not surprising , then , that Roubini and Setser argue that the end of the recent efforts to create a new international bankruptcy regime for ...
... contracts is unlikely to sig- nificantly reduce pressure to bail out crisis countries . It is not surprising , then , that Roubini and Setser argue that the end of the recent efforts to create a new international bankruptcy regime for ...
หน้า 12
... contracts also include provisions that make it difficult for an in- dividual creditor to initiate litigation and keep all the proceeds of the litigation for itself . principal and provide " new money " to help the 12 BAILOUTS OR BAIL - INS ...
... contracts also include provisions that make it difficult for an in- dividual creditor to initiate litigation and keep all the proceeds of the litigation for itself . principal and provide " new money " to help the 12 BAILOUTS OR BAIL - INS ...
หน้า 15
... contract . Economically , what matters is that the 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 ...
... contract . Economically , what matters is that the 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 ...
หน้า 46
... contracts that have " equity - like " features , such as state - contingent coupon payments ( i.e. , coupons that are lower in bad times and larger in good times ) . In the cor- porate or financial sector , capital structure risk arises ...
... contracts that have " equity - like " features , such as state - contingent coupon payments ( i.e. , coupons that are lower in bad times and larger in good times ) . In the cor- porate or financial sector , capital structure risk arises ...
หน้า 60
... contracts obligated the Russian banks to sell dollars on a given date at a fixed price , even if the ruble had been de- valued . Unfortunately , the banking system was in no position to take on this currency risk . In effect , the ...
... contracts obligated the Russian banks to sell dollars on a given date at a fixed price , even if the ruble had been de- valued . Unfortunately , the banking system was in no position to take on this currency risk . In effect , the ...
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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