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
... - Summers era policy wonks take on financial architecture , matured by distance , turbocharged with academic authority . " -Jeromin Zettelmeyer , International Monetary Fund INSTITUTE FOR INTERNATIONAL ECONOMICS BAILOUTS OR BAIL - INS ?
... - Summers era policy wonks take on financial architecture , matured by distance , turbocharged with academic authority . " -Jeromin Zettelmeyer , International Monetary Fund INSTITUTE FOR INTERNATIONAL ECONOMICS BAILOUTS OR BAIL - INS ?
หน้า 2
... maturing claims . The debts coming due can be the obligations of the crisis country's government - for example , a maturing international sovereign bond . They also can be cross - border loans to private borrowers - most often banks ...
... maturing claims . The debts coming due can be the obligations of the crisis country's government - for example , a maturing international sovereign bond . They also can be cross - border loans to private borrowers - most often banks ...
หน้า 3
... maturing debts , without any reduction in the contractual interest rate the country must pay . Such restructurings are often called a rescheduling . Alternatively , a re- structuring could both defer principal payments and reduce ...
... maturing debts , without any reduction in the contractual interest rate the country must pay . Such restructurings are often called a rescheduling . Alternatively , a re- structuring could both defer principal payments and reduce ...
หน้า 10
... maturing international bonds are not the only source of fi- nancial pressure on crisis countries . The pressures that can come from cross - border bank lending and the roll - off of domestic debts and bank de- posits can overwhelm even ...
... maturing international bonds are not the only source of fi- nancial pressure on crisis countries . The pressures that can come from cross - border bank lending and the roll - off of domestic debts and bank de- posits can overwhelm even ...
หน้า 12
... maturing 15. Collective action clauses allow a supermajority of bondholders to amend the bond's fi- nancial terms . Some bond contracts also include provisions that make it difficult for an in- dividual creditor to initiate litigation ...
... maturing 15. Collective action clauses allow a supermajority of bondholders to amend the bond's fi- nancial terms . Some bond contracts also include provisions that make it difficult for an in- dividual creditor to initiate litigation ...
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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