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 3
... short - term claims or a formal debt restructuring3 — also can give a country some time to right itself . But it requires that the country , with the implicit backing of the IMF , break its contractual promise to pay creditors in full ...
... short - term claims or a formal debt restructuring3 — also can give a country some time to right itself . But it requires that the country , with the implicit backing of the IMF , break its contractual promise to pay creditors in full ...
หน้า 11
... short - term external financing to other banks or firms . Because bank lines are usually short- term , they can roll off faster than longer - term credits . Local banks often use short - term loans from international banks to finance ...
... short - term external financing to other banks or firms . Because bank lines are usually short- term , they can roll off faster than longer - term credits . Local banks often use short - term loans from international banks to finance ...
หน้า 13
... term bonds who sell their claims in a crisis put pressure on the bonds ' market price , not on the country's reserves . Hold- ers of short - term debt , in contrast , have a contractual right to exchange their claims for the country's ...
... term bonds who sell their claims in a crisis put pressure on the bonds ' market price , not on the country's reserves . Hold- ers of short - term debt , in contrast , have a contractual right to exchange their claims for the country's ...
หน้า 17
... short - term debt risk losing reserves because short - term debt can roll off quickly . Those with lots of foreign - currency debt risk seeing the burden of their debt in local currency increase sharply after a large devaluation . Those ...
... short - term debt risk losing reserves because short - term debt can roll off quickly . Those with lots of foreign - currency debt risk seeing the burden of their debt in local currency increase sharply after a large devaluation . Those ...
หน้า 26
... term debts , let alone convince creditors to refinance maturing short - term debt . When crises struck Thailand , Korea , and Indonesia , private banks , fi- nancial institutions , and corporations experienced the most acute pay- ment ...
... term debts , let alone convince creditors to refinance maturing short - term debt . When crises struck Thailand , Korea , and Indonesia , private banks , fi- nancial institutions , and corporations experienced the most acute pay- ment ...
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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