Download or read book Illustrative Effects of Voluntary Debt and Debt Service Reduction Operations written by Ruben Lamdany and published by . This book was released on 1989 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the potential effects of voluntary debt and debt service reduction operations supported by multilateral agencies and governments of creditor countries. The paper considers alternative financial structures for these operations : buy-backs, par and discounted debt exchanges and concessional debt restructurings. The note concludes that for relatively small market based operations, the overall benefits to the country under those alternative structures are likely to be very similar. Tax and regulatory benefits as well as the possibility of creating some degree of seniority for exit bonds, could enhance the benefits obtained through debt exchanges relative to buy-backs. Concessional loan restructurings are the most difficult to evaluate, because the outcome hinges on the determinants of the bargaining strength of each side, as well as on the economics of debt reduction.
Download or read book Methhodoligical Issues in Evaluating Debt Reducing Deals written by and published by World Bank Publications. This book was released on with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Recent Experience with Commercial Bank Debt Reduction written by Stijn Claessens and published by World Bank Publications. This book was released on with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Voluntary Choices in Concerted Deals written by Ishac Diwan and published by World Bank Publications. This book was released on 1990 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: When lenders participate voluntarily in a buyback of debt claims, both the price paid for repurchased claims and the secondary market price of the remaining debt rise-- so all creditors realize a net benefit. In contrast, the menu approach to debt reduction allows the debtor to reduce its debt at cheaper prices.
Download or read book La Dette Ext rieure written by ... Carreau-Shaw and published by Martinus Nijhoff Publishers. This book was released on 1995 with total page 820 pages. Available in PDF, EPUB and Kindle. Book excerpt: The practical importance of the subject of 'The External Debt' in contemporary international life goes without saying. On the analytical level, the interest and indeed the difficulty of the subject lies in the need for a multidisciplinary approach, where political, financial and legal aspects are closely linked and require a clear understanding. From the purely legal point of view, the traditional and largely artificial boundaries between private and public law, between private international law and public international law and even, more generally, between municipal and international law are clearly marked here. In this respect any analyst has to be a complete jurist, and this collection of essays (in English and French) is an illustration of this fact.
Download or read book The Liquidation of Government Debt written by Ms.Carmen Reinhart and published by International Monetary Fund. This book was released on 2015-01-21 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.
Download or read book The Fund s Lending Framework and Sovereign Debt Annexes written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-05-23 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Download or read book Guidelines for Public Debt Management Amended written by International Monetary Fund and published by International Monetary Fund. This book was released on 2003-09-12 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Download or read book Redefining the Role of Government in Agriculture for the 1990 s written by John Nash and published by World Bank Publications. This book was released on 1990-01-01 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Methodological Issues in Evaluating Debt reducing Deals written by Stijn Claessens and published by . This book was released on 1990 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Here is a simple method for identifying the best debt deals a country can bargain for with creditors when debt reduction and new money are the only options available.
Download or read book Debt Reduction and Economic Activity written by International Monetary Fund and published by International Monetary Fund. This book was released on 1990-03-19 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on principles and various aspects of debt reduction and economic activity. The paper analyzes the effect of debt and debt-service reduction on the contractual and market values of a country's debt and also describes the IMF staff's preliminary attempts to describe and quantify the macroeconomic effects of debt and debt-service reduction. The method by which the buyback is financed is critical in determining how much debt reduction takes place, or, alternatively put, how much the price of debt rises. It is assumed in this paper that individual creditors are free to retain their existing claims and that these cannot be subordinated to new claims. It should be recognized at the outset that the approach used is but one of several possibilities. It should also be emphasized that the discussion is preliminary and that results will need to be reassessed as less restrictive assumptions are employed and as our understanding of the important economic relationships involved improves.
Download or read book Enterprise Reform and Privatization in Socialist Economies written by Barbara W. Lee and published by World Bank Publications. This book was released on 1990-01-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: State-owned enterprises were the dominant players in socialist economies during the past four decades. Yet most such governments had become dissatisfied with these enterprises over time. Among the main problems were: -- Inefficiencies of production methods -- Stagnating production rates -- Poor quality of the items produced -- High pollution rates -- Lack of technological innovation This report review the attempts of seven socialist countries to reform their state-owned enterprises -- Algeria, China, Hungary, Laos, Mozambique, Poland, and Yugoslavia. The report assesses the experience of these countries to date and forecasts future prospects for reform. Through their analysis, the augthors provide guidance for other socialist countries seeking to open their economies.
Download or read book The Information Technology Revolution and Economic Development written by Nagy Hanna and published by World Bank Publications. This book was released on 1991 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Information is a major development resource, joining the ranks with human, natural and financial resources. Therefore, development agencies must understand the role of information and information technologies (informatics) in the developing countries to respond to a rapidly evolving global environment. The ongoing information explosion in the industrialized economies contrasts sharply with the information poverty of developing countries. This poverty takes many forms, including poor information support for macroeconomic and sectoral policy formulation and implementation, limited access to information for rural populations, and isolation of researchers and professionals from international research findings and so on. Informatics applications offers new ways to make the most of the managerial and institutional resources of developing countries, with the most widespread benefits likely to come from applying it to priority sectors. Governments are recognizing their roles as information providers and users, facilitators of information technology diffusion, and providers of information and communication infrastructures, as well as their role in setting policies for informatics. During the 1990s the impact of information technology will be felt increasingly. Developing countries at all levels of development must stay abreast of the information revolution : they cannot afford to ignore this "second industrial revolution."
Download or read book Foreign Relations Journal written by and published by . This book was released on 1994 with total page 602 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Sovereign Debt Restructurings 1950 2010 written by Mr.Udaibir S. Das and published by International Monetary Fund. This book was released on 2012-08-01 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950–2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt agreements with the Paris Club. We present new stylized facts on the outcome and process of debt restructurings, including on the size of haircuts, creditor participation, and legal aspects. In addition, the paper summarizes the relevant empirical literature, analyzes recent restructuring episodes, and discusses ongoing debates on crisis resolution mechanisms, credit default swaps, and the role of collective action clauses.
Download or read book Debt Equity Conversion Analysis written by John D. Shilling and published by . This book was released on 1990 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the potential impact of implementing a debt equity conversion program on selected macroeconomic variables of a debtor country and discusses some pragmatic issues related to the implementation. It shows that the benefits of conversions, primarily the promotion of additional investment and debt reduction, may come with short-run costs in monetary expansion carrying inflationary potential. But the paper demonstrates that these costs are more than offset by reductions in monetary expansion and lower service payments over the following several years due to debt reduction. Lastly, the paper demonstrates that various mechanisms can have a great effect on the program's efficiency in meeting its objectives, and that the best way to promote additional investment would be to maintain a steady program of sufficient duration.
Download or read book World Economic Outlook May 1992 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1992-01-01 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper highlights that following a small decline in world output in 1991, growth will recover to about 11⁄2 percent in 1992 before gaining more momentum in 1993. There were signs of recovery in some of those industrial economies that have been in recession, but some other countries continued to show signs of weakness. Although the sluggishness of many cyclical indicators continues to highlight the downside risks to the short-term projections, there are several positive aspects of the current situation.
