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 88
หน้า 1
... reserves , that it has lost access to international capital markets , and that it has perhaps even lost the confidence of its own citizens . Without a large rescue loan , the coun- try will be forced to devalue its currency and either ...
... reserves , that it has lost access to international capital markets , and that it has perhaps even lost the confidence of its own citizens . Without a large rescue loan , the coun- try will be forced to devalue its currency and either ...
หน้า 5
... 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 priority over ...
... 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 priority over ...
หน้า 13
... reserves . Hold- ers of short - term debt , in contrast , have a contractual right to exchange their claims for the country's scarce cash the day their debt comes due . The " bailing out bonds " debate paints a misleading picture of the ...
... reserves . Hold- ers of short - term debt , in contrast , have a contractual right to exchange their claims for the country's scarce cash the day their debt comes due . The " bailing out bonds " debate paints a misleading picture of the ...
หน้า 14
... reserves borrowed from the IMF can be used in as many different ways as the gov- ernment's own reserves . One additional term warrants discussion , if not a precise definition : a country's debt . Let's consider an actual country like ...
... reserves borrowed from the IMF can be used in as many different ways as the gov- ernment's own reserves . One additional term warrants discussion , if not a precise definition : a country's debt . Let's consider an actual country like ...
หน้า 16
... reserves rather than taking steps to reduce the size of their current account or fiscal deficits . Countries need to raise money not only to finance current account and budget deficits but also to refinance their existing debt as it ...
... reserves rather than taking steps to reduce the size of their current account or fiscal deficits . Countries need to raise money not only to finance current account and budget deficits but also to refinance their existing debt as it ...
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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