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Debt build-up in frontier Low-Income Developing Countries (LIDCs) since 2012 : global or country-specific factors and way forward?
De Soyres, Constance; Rogantini Picco, Anna; Sab, Randa - 2019
This paper focuses on the debt build-up that frontier low-income developing countries (LIDCs) have faced since 2012. First, it documents a 20-percentage point increase in the external and government debt-to-GDP ratios, a composition shift toward higher non-concessional debt, and a rise in...
Persistent link: https://www.econbiz.de/10012009382
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Brazilian market portfolio
Tessari, Cristina; Meyer Cirkel, Alexis - 2017
In recent years, Brazil has achieved substantial progress in capital market development by building a diversified …
Persistent link: https://www.econbiz.de/10011716707
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Valuing Interest Payment Guaranteeson Developing Country Debt
International Monetary Fund - 1990
This paper develops a technique to value guarantees on interest payments on developing-country debt, and provides some preliminary estimates of the cost of such guarantees. The cost of interest payment guarantees is not directly observable because a guarantee is a contingent obligation that...
Persistent link: https://www.econbiz.de/10014395991
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Pricing Floating-Rate Debt and Related Interest Rate Options
Scott, Louis O. - 1990
Most developing country debt is denominated in U.S. dollars and has a floating interest rate. The pricing of floating rate debt and related interest rate options are examined in this paper. Formulas for pricing ceilings and floors on floating rate debt are derived for several different models of...
Persistent link: https://www.econbiz.de/10014396258
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Lending Resumption After Default : Lessons From Capital Markets During the 19Th Century
Sole, Juan - 2006
This paper mines the experience of capital markets during the 19th century to propose an alternative way of interpreting international default episodes. The standard view is that defaulting on sovereign debt entails exclusion from capital markets. Yet we have observed multiple instances of...
Persistent link: https://www.econbiz.de/10014402978
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Mexico's External Debt and the Return to Voluntary Capital Market Financing
El-Erian, Mohamed A. - 1991
The paper analyzes the evolution of Mexico’s approach to commercial bank debt restructuring since the outbreak of the 1982 debt servicing problems. It discusses the key elements of the approach, their implementation, and their interaction with developments in the “international debt...
Persistent link: https://www.econbiz.de/10014396129
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The Restoration of Latin America's Access to Voluntary Capital Market Financing : Developments and Prospects
El-Erian, Mohamed A. - 1991
After a prolonged and almost total reliance on debt restructurings and concerted new money facilities, several Latin American countries have, over the last two years, mobilized voluntary financing from international capital markets. Although the phenomenon is still relatively limited in terms of...
Persistent link: https://www.econbiz.de/10014396089
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Time-varying neutral interest rate : the Case of Brazil
Perrelli, Roberto; Roache, Shaun K. - 2014
Persistent link: https://www.econbiz.de/10010388736
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Is Brazil Different? : Risk, Dollarization, and Interest Rates in Emerging Markets
Holland, Márcio - 2007
, but find that the effect is small after controlling for the risks of dilution and default. Brazil provides a natural case … explain the high interest rate levels in the aftermath of Brazil''s 1994 inflation stabilization. However, since the adoption … in 1999 of inflation targeting and floating exchange rates, Brazil''s real interest rates are gradually converging to the …
Persistent link: https://www.econbiz.de/10014401062
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The Puzzle of Brazil's High Interest Rates
Segura-Ubiergo, Alex - 2012
This paper highlights that real interest rates in Brazil have declined substantially over time, but are still well … Brazil sustain significantly lower real interest rates than in the past. Going forward, the paper shows that Brazil can … savings. Still, econometric results suggest that, controlling for everything else in the model, real interest rates in Brazil …
Persistent link: https://www.econbiz.de/10014396962