Saravia Tamayo, Diego - 2004
This thesis studies how International Monetary Fund (IMF) loans interactwith private capital flows and how they affect … that the IMF hasboth de jure and de facto seniority rights over private creditors. It is shown thatIMF lending affects … borrowers and lenders in different ways. Ex-post, once theinitial borrowing decisions have been made, an IMF intervention always …