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 91
หน้า 5
... falls off a financial and economic cliff . Second , the emerging economies ' 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 ...
... falls off a financial and economic cliff . Second , the emerging economies ' 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 ...
หน้า 9
... falling back to $ 58 billion in June 2000. The IMF had $ 97 billion outstanding at the end of 2003 with no clear prospects of a major re- duction in its exposure to its largest borrowers in the near term . All data are from the IMF and ...
... falling back to $ 58 billion in June 2000. The IMF had $ 97 billion outstanding at the end of 2003 with no clear prospects of a major re- duction in its exposure to its largest borrowers in the near term . All data are from the IMF and ...
หน้า 21
... fall in output , and its creditors avoid bigger losses . Of course , any steps to soften the blow of a restructuring could , at the margin , reduce a country's incentives for prudent policies . We think that this INTRODUCTION 21 X.
... fall in output , and its creditors avoid bigger losses . Of course , any steps to soften the blow of a restructuring could , at the margin , reduce a country's incentives for prudent policies . We think that this INTRODUCTION 21 X.
หน้า 26
... fall in international capital flows into the crisis country . This fall in capital flows , in turn , often cre- ates financial difficulties for banks , firms , and sovereign governments , which count on continuous access to market ...
... fall in international capital flows into the crisis country . This fall in capital flows , in turn , often cre- ates financial difficulties for banks , firms , and sovereign governments , which count on continuous access to market ...
หน้า 27
... fall in output . Russia is the true exception : Its economy was contracting before its financial crisis in 1998 and ... fall in output , relative to the precrisis peak , was over 20 percent , as the output fall started before the crisis ...
... fall in output . Russia is the true exception : Its economy was contracting before its financial crisis in 1998 and ... fall in output , relative to the precrisis peak , was over 20 percent , as the output fall started before the crisis ...
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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