action to counter an unsustainable debt path. Collective action clauses, the sovereign debt restructuring mechanism, and … ceilings on IMF loans, are all necessary components of a new and better crisis resolution framework. …

action to counter an unsustainable debt path. Collective action clauses, the sovereign debt restructuring mechanism, and … ceilings on IMF loans, are all necessary components of a new and better crisis resolution framework. …

, causing sharp falls in investment and output. It is wrong to blame the IMF for these calamitous outcomes. Nevertheless, the … strategy adopted by the IMF for dealing with the Asian crisis was partly responsible for the severity of the crisis. By calling … external debt, including private-sector debt. Standstills must replace massive official financing as the first line of defense …

This paper examines the claim that the IMF catalyzes other capital flows. We identify a series of propositions based on … recent theoretical work, use a treatment effects model to deal with selection bias, and examine whether the IMF catalyzes …

While often considered a purely ?nancial institution, the IMF has throughout its history performed non …. Their low income, the lack of signi?cant consequences for markets, the IMF?s traditional reluctance to criticise members, as … over the interests of private lenders. The continued importance of foreign aid in eligible countries also puts the IMF in …

This paper examines the additional lending decision of a creditor to a sovereign debtor in default. The analysis … incorporates the prevalence of partial default and the amount of inherited debt in default. We show that an increase in additional … lending, L, could increase the probability of repayment of both the loan outstanding and L, thereby increasing the expected …

The cancellation of the debt of the world’s poorest countries has brought about a recovery in their financial situation …

Recent theoretical and empirical research suggests that under certain conditions IMF agreements induce additional …

rely solely on the International Monetary Fund (IMF) again, the Chiang Mai Initiative (CMI) was created in 2000. When the … doubled in size to $240 billion, while the IMF de-linked portion was increased to 30%. A surveillance unit, the Association …

rely solely on the International Monetary Fund (IMF) again, the Chiang Mai Initiative (CMI) was created in 2000. When the … doubled in size to US$240 billion, while the IMF de-linked portion was increased to 30% of the available country quotas. A … complement to the IMF. To serve as a stand-alone option, however, its size or the IMF de-linked portion of funds needs to be …