Using empirical analysis, complemented with case studies, this paper studies under which circumstances IMF programs … a better job at attracting FDI than shorter-term flows, particularly cross-border bank lending. On the second, programs … the role of conditionality –as opposed to signalling and liquidity– as the strongest channel through which IMF catalyzes …

IMF lending during debt crises on the sovereign’s optimal maturity structure. Within the model, although IMF assistance is … the roll-over problem larger. I take the model to the data and find support for the hypothesis that IMF lending leads … countries to increase their short-term borrowing. Additionally, I do not find any positive effect of IMF lending on countries …

This paper proposes updating and improving the IMF’s lending mechanism, by replacing all of its credit lines with a … mechanism, more readily adaptable to borrowers’ needs, stronger incentives to avoid excessive use of IMF resources and equitable …

workouts, of which the debate on the Sovereign Debt Restructuring Mechanism (SDRM) proposed by the IMF in 2002 is the most … due to the lack of a policy specifically designed to deal with sovereign debt restructurings in the IMF's toolkit, which …Sovereign debt restructurings do constitute a recurrent phenomenon in emerging and developing economies. Consequently …

the Policy of Lending Into Arrears. We find that the IMF can potentially exert a substantial influence on sovereign debt …This paper analyzes the role played by the IMF in eight recent sovereign debt restructurings from a comparative … sovereign debt restructurings. In part, this reflects the flexibility with which the IMF has adapted its intervention to country …

accumulated in the high-growth phase (the real estate boom, excess debt and the loss in competitiveness), which are all closely …

The sovereign debt crisis in the euro area has raised interest in early warning indicators, aimed at signalling the …

Since the Latin American debt crisis of the early 80s, country risk analysis has accounted for a significant part of …

crisis erupted and pushed them into deep recession, raising their deficits and debt levels. By 2010, they were facing severe … debt problems. Spreads increased and, surprisingly, so did the share of the debt held by domestic creditors. Credit was … these facts, we propose a simple model of sovereign risk in which debt can be traded in secondary markets. The model has two …