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 89
หน้า 21
... risk that the traditional catalytic IMF lending won't work . Tough because the IMF should be willing to make an upfront judgment that a country won't be able to avoid a restructuring and thus be willing to refuse the country's request ...
... risk that the traditional catalytic IMF lending won't work . Tough because the IMF should be willing to make an upfront judgment that a country won't be able to avoid a restructuring and thus be willing to refuse the country's request ...
หน้า 22
... risk is man- ageable , though , and it is better to step in and help than run the risk that a crisis will end in an Argentine - style implosion and stalemate . Structure of the Book The details of a crisis matter , which is one reason ...
... risk is man- ageable , though , and it is better to step in and help than run the risk that a crisis will end in an Argentine - style implosion and stalemate . Structure of the Book The details of a crisis matter , which is one reason ...
หน้า 28
... risk Short - term foreign debt ( percent of reserves ) 203 289 136 158 M2 / reserves High 6.2 4.0 6.6 3.5 995 49 255 6.2 Country solvency risk External debt ( percent of GDP ) 33 31 60 43 38 38 335 External debt ( percent of exports ) ...
... risk Short - term foreign debt ( percent of reserves ) 203 289 136 158 M2 / reserves High 6.2 4.0 6.6 3.5 995 49 255 6.2 Country solvency risk External debt ( percent of GDP ) 33 31 60 43 38 38 335 External debt ( percent of exports ) ...
หน้า 32
... risk of a large current account imbalance and the risk that borrowers would underestimate currency risk and rely too heavily on foreign - currency debt ; poor banking regulation , implicit and / or explicit government guar- antees , and ...
... risk of a large current account imbalance and the risk that borrowers would underestimate currency risk and rely too heavily on foreign - currency debt ; poor banking regulation , implicit and / or explicit government guar- antees , and ...
หน้า 34
... risk that short - term creditors will run and the risks of borrowing in foreign currency are interrelated . Diffi- culties refinancing short - term debts often result in a sharp depreciation in the currency that increases the real ...
... risk that short - term creditors will run and the risks of borrowing in foreign currency are interrelated . Diffi- culties refinancing short - term debts often result in a sharp depreciation in the currency that increases the real ...
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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