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An examination of the developing-country debt problem, considering both the difficulty of obtaining and servicing foreign loans and the resource adjustments associated with consumption, investment, and trade patterns.
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Sovereign ratings are gaining importance as more governments with greater default risk borrow in international bond markets. But while the ratings have proved useful to governments seeking market access, the difficulty of assessing sovereign risk has led to agency disagreements and public...
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The paper examines the evolution of U.S. external balances since 1980 and considers various explanations for the … persistence of external deficits in the late 1980s and the 1990s. It also offers a general assessment of the medium-term prospects … for U.S. current account deficits. The review of evidence indicates that the huge increase in U.S. external deficits over …
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's rating appears largely determined by its per capita income, external debt burden, inflation experience, default history and …
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