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Debt Accumulation in the Cis-7 Countries : Bad Luck, Bad Policies, or Bad Advice

Helbling, Thomas; Mody, Ashoka; Sahay, Ratna - 2004

financial institutions. Three factors contributed to the current debt burden. First, the initial years of transition brought … large systemic economic disruptions, loss of transfers from the center and collapse of trade relations among Council for … Mutual Economic Assistance (CMEA) countries, and negative terms of trade shocks. Second, fiscal and other reforms, and …

Persistent link: https://www.econbiz.de/10014070234

Preferred and non-preferred creditors

Cordella, Tito; Powell, Andrew - 2021

International financial institutions (IFIs) generally enjoy preferred creditors treatment (PCT). Although PCT rarely appears in legal contracts, when sovereigns restructure bilateral or commercial debts, they normally pay IFIs in full. This paper presents a model where a creditor, such as an...

Persistent link: https://www.econbiz.de/10012586734

Overlooked Sovereign Credit Events and Non-Pecuniary Defaults : British Debt Sustainability in the Post-Second World War Period

Hileman, Garrick - 2017

This paper examines UK sovereign debt sustainability following the Second World War. Even though the UK in 1946 recorded the highest public debt-to-GDP ratio of the 20th century, the sovereign credit literature does not show a UK sovereign default following the Second World War. New archival...

Persistent link: https://www.econbiz.de/10012968878

The Balance of Payments, Russia's External Debt and the Exchange Rate of the Ruble : A Fragile Equilibrium

Bozhechkova, Alexandra - 2016

Russia's balance of payments data for Q3 2015 show a considerable decline in her current account balance. In monetary terms, the decline in imports during Q3 was faster than that in exports (relative to Q3 2014). By comparison with Q2 2015, it even demonstrated a slight increase, notwithstanding...

Persistent link: https://www.econbiz.de/10013002749

North Korea's Trade Expansion with Western Countries in the Early 1970's and Its Implications on North Korea's Current Attempts at Economic Rehabilitation

Lee, Jong-Woon - 2017

The purpose of this study is to provide the analytical background of North Korea's trade expansion with Western … explores the implications of the mechanism and consequences of North Korea's increased trade with Western countries in the 1970 …'s for the current situation of the country's trade expansion based on the rapid increase in imports and large trade …

Persistent link: https://www.econbiz.de/10012942440

How China Lends : A Rare Look into 100 Debt Contracts with Foreign Governments

Gelpern, Anna; Horn, Sebastian; Trebesch, Christoph; … - 2021

China is the world’s largest official creditor, but basic facts are lacking about the terms and conditions of its lending. Very few contracts between Chinese lenders and their government borrowers have ever been published or studied. This paper is the first systematic analysis of the legal...

Persistent link: https://www.econbiz.de/10013226639