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Money for Nothing and Checks for Free; Recent Developments in U.S. Subprime Mortgage Markets
Mills, Paul S.; Kiff, John - International Monetary Fund (IMF) - 2007
After a number of warning signs, the U.S. "subprime mortgage crisis" became a headline issue in February 2007. Notwithstanding the bankruptcy of numerous mortgage companies, historically high delinquencies and foreclosures, and a significant tightening in subprime lending standards, the impact...
Persistent link: https://www.econbiz.de/10005605115
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Angola; Staff Report for the 2012 Article IV Consultation and Post Program Monitoring
International Monetary Fund (IMF); International … - 2012
The Angolan government’s efforts to achieve macroeconomic stability to bring inflation and fiscal deficit considerably down are paying off despite high vulnerability to oil revenue shocks. The expected overall growth of up to 7 percent will be contributed to by increased oil production,...
Persistent link: https://www.econbiz.de/10011244737
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Republic of Latvia; Second Review and Financing Assurances Review Under the Stand-By Arrangement, Request for Extension of the Arrangement and Rephasing of Purchases Under the Arra...
International Monetary Fund (IMF); International … - 2010
This paper discusses key findings of the Second Review and Financing Assurances Review Under the Stand-By Arrangement for Latvia. The sharp economic downturn is starting to bottom out, although recovery has not yet begun. The authorities have implemented the June 2009 supplementary budget, and...
Persistent link: https://www.econbiz.de/10011243235
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Foreign Currency Deposits and International Liquidity Shortages in Pakistan
Mirakhor, Abbas; Zaidi, Iqbal Mehdi - International Monetary Fund (IMF) - 2004
This paper studies the implications of foreign currency deposits (FCDs) for international liquidity shortages in Pakistan. The analysis focuses on how the large volume of FCDs and the specific institutional characteristics of those deposits have made the Pakistan economy highly vulnerable to...
Persistent link: https://www.econbiz.de/10005826483
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IMF-Supported Programs in Capital Account Crises; Design and Experience
Bulir, Ales; Schulze-Gattas, Marianne; Ghosh, Atish R.; … - International Monetary Fund (IMF) - 2002
Persistent link: https://www.econbiz.de/10005767357
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Debt Overhang or Debt Irrelevance? Revisiting the Debt Growth Link
Cordella, Tito; Ricci, Luca Antonio; Ruiz-Arranz, Marta - International Monetary Fund (IMF) - 2005
Do Highly Indebted Poor Countries (HIPCs) suffer from a debt overhang? Is debt relief going to improve their growth rates? To answer these important questions, we look at how the debt-growth relationship varies with indebtedness levels and other country characteristics in a panel of developing...
Persistent link: https://www.econbiz.de/10005604811
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Approaches to Corporate Debt Restructuring in the Wake of Financial Crises
Laryea, Thomas - International Monetary Fund (IMF) - 2010
This paper starts from a discussion of the economic case for moderated government intervention in debt restructuring in the nonfinancial corporate sector. It then draws on lessons from past crises to explain three broad approaches that have been applied to corporate debt restructurings in the...
Persistent link: https://www.econbiz.de/10010790467
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Republic of Korea; 2004 Article IV Consultation—Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2005
This 2004 Article IV Consultation highlights that from 1999 to 2002, Korea’s economy grew rapidly, by an average of 7¼ percent per year. But starting in 2003, the economy has begun to sputter. Growth suddenly stopped in the first half of the year, leapt ahead in the second half as...
Persistent link: https://www.econbiz.de/10005252883
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Credit Growth in the Middle East, North Africa, and Central Asia Region
Crowley, Joe - International Monetary Fund (IMF) - 2008
Rapid private sector credit growth in the Middle East, North Africa, and Central Asia has been a result of strong … economic growth, financial deepening, and banks’ willingness to explore consumer credit markets. Economic growth, the initial … ratio of private sector credit to GDP, price volatility, and nonoil exports are found to be significant explanatory …
Persistent link: https://www.econbiz.de/10005264230
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Credit Matters; Empirical Evidenceon U.S. Macro-Financial Linkages
Bayoumi, Tamim; Melander, Ola - International Monetary Fund (IMF) - 2008
a negative shock to banks' capital/assetratio on lending standards, which in turn affect consumer credit, mortgages, and … investment). In addition, our empirical model allows for feedback from spending and income to bank capital adequacy and credit …. Hence, we trace the full credit cycle. An exogenous fall in the bank capital/asset ratio by one percentage point reduces …
Persistent link: https://www.econbiz.de/10005599689