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This paper discusses, in a very general way, a system of IMF insurance against sovereign default that could be offered … to private lenders and banking groups. The system could overcome many of the current issues that plague the international … private lending market, such as moral hazard on the part of private lenders, capital flight, and so on. How the insurance …
Persistent link: https://www.econbiz.de/10013068884
As public debt soars, a new wave of sovereign defaults looms. International law on sovereign defaults is underdeveloped … defaults is likely to shift dispute resolution away from national courts to international tribunals and transform the current … years shows how international tribunals balance creditor claims and sovereign capacity to pay across time. It offers a rich …
Persistent link: https://www.econbiz.de/10013131991
This paper explores the drivers of sovereign defaults in 100 countries over the period 1996-2012. We build a new data set of sovereign defaults and find that default events on local and foreign currency bonds are equally likely. However, governments default under different economic and financial...
Persistent link: https://www.econbiz.de/10012938192
Since their inception at the end of the Second World War, the sister organizations of the World Bank and the … International Monetary Fund (IMF) have aimed to consistently speak with one voice vis-agrave;-vis their member governments. However …
Persistent link: https://www.econbiz.de/10012728442
decades of the 20th century: 1970 to 2000. The paper examines the Federal Reserve's role in international economic and … central bank emerged to become the closest the world has to a global central bank …
Persistent link: https://www.econbiz.de/10013032804
, but also because of its heavy reliance on the US dollar for regional and international transactions. As Asia's role in the … and appending a government bond payment and securities settlement system could be a practical solution to international … monetary system reform and the diversification of settlement currencies. …
Persistent link: https://www.econbiz.de/10009734182
wildly different actors — the United Nations General Assembly, the International Monetary Fund, the International Capital … Market Association and the Jubilee coalition, among others — reflect broad-based demand for reform. Now is the time to …
Persistent link: https://www.econbiz.de/10012985499
• The IMF staff's 2013 proposal to reprofile (i.e., stretch out for a short period without haircutting principal or interest) the maturing debt of a country that has lost market access is a sensible policy in cases where the IMF is uncertain whether the country's debt stock is sustainable.•...
Persistent link: https://www.econbiz.de/10013043303
, but also because of its heavy reliance on the US dollar for regional and international transactions. As Asia's role in the … and appending a government bond payment and securities settlement system could be a practical solution to international … monetary system reform and the diversification of settlement currencies. …
Persistent link: https://www.econbiz.de/10011432695
also possible. -- IMF programs ; Sovereign defaults ; Bivariate probit ; International Financial Architecture …
Persistent link: https://www.econbiz.de/10008695546