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 61
หน้า 2
... option is a rescue loan from an international financial institution ( IFI ) , such as the IMF , or from a major country like the United States . The loan has to be big enough to en- able the crisis country to make payments on at least ...
... option is a rescue loan from an international financial institution ( IFI ) , such as the IMF , or from a major country like the United States . The loan has to be big enough to en- able the crisis country to make payments on at least ...
หน้า 5
... options for resolving financial crises in emerging - market econ- omies . More could be achieved by aiming a bit lower . The real challenge is not so much redesigning existing institutions as finding ways of using existing institutions ...
... options for resolving financial crises in emerging - market econ- omies . More could be achieved by aiming a bit lower . The real challenge is not so much redesigning existing institutions as finding ways of using existing institutions ...
หน้า 7
... options . The biggest myth is that less talk about the theoretical virtues of large bailout packages has somehow made large bailout packages go away ( see table 1.1 and figures 1.1 and 1.2 ) . But 8. Argentina received $ 13 billion of ...
... options . The biggest myth is that less talk about the theoretical virtues of large bailout packages has somehow made large bailout packages go away ( see table 1.1 and figures 1.1 and 1.2 ) . But 8. Argentina received $ 13 billion of ...
หน้า 13
... options the country , the IMF , and the IMF's major shareholders face when a country needs a large loan to avoid de- faulting on its debt . This , alas , requires defining a number of often poorly understood terms . " Bailout " sounds ...
... options the country , the IMF , and the IMF's major shareholders face when a country needs a large loan to avoid de- faulting on its debt . This , alas , requires defining a number of often poorly understood terms . " Bailout " sounds ...
หน้า 19
... options . Targeted restructurings are more common . Academic models often try to clarify the core choice between a bailout and a bail - in . In practice , however , it is often possible to combine a partial bailout with a partial bail ...
... options . Targeted restructurings are more common . Academic models often try to clarify the core choice between a bailout and a bail - in . In practice , however , it is often possible to combine a partial bailout with a partial bail ...
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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