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Persistent link: https://www.econbiz.de/10004809591
Here we highlight the contribution that private creditors have made to resolve expeditiously and even generously the many sovereign debt crises in which they have been involved. The road from debt restructuring to debt forgiveness – from reprofiling to cancellation, in the jargon of the...
Persistent link: https://www.econbiz.de/10015212576
Three sovereign defaults in the past decade have each inflicted losses of at least 70% on bondholders: Argentina, Ecuador, and now Greece. In each case, creditor rights and the rule of law were trampled, setting troubling precedents that are worrying investors involved in vulnerable European...
Persistent link: https://www.econbiz.de/10011110096
Brazil is a country with long-standing ambitions for a major role in the world economy and in global governance, but its footprint in various measures of both remains relatively modest. On current trends, the gap between ambition and achievement will likely remain large, so we provide a critique...
Persistent link: https://www.econbiz.de/10011257894
The pedestrian narrative about the Greek financial crisis and default is that the country was fiscally mismanaged for a long time and failed to carry out needed structural reforms that could have improved economic growth prospects and enhanced the country’s creditworthiness. Therefore, a...
Persistent link: https://www.econbiz.de/10011258123
This book discusses the issues associated with the capriciousness of capital flows into Latin America, examining macroeconomic and financial sector impact, as well as offering policy recommendations for achieving stability despite volatile capital flows. The authors review recent experience with...
Persistent link: https://www.econbiz.de/10010772528
Persistent link: https://www.econbiz.de/10006436529
This book discusses the issues associated with the capriciousness of capital flows into Latin America, examining macroeconomic and financial sector impact, as well as offering policy recommendations for achieving stability despite volatile capital flows. The authors review recent experience with...
Persistent link: https://www.econbiz.de/10010943616
Persistent link: https://www.econbiz.de/10005062696
Persistent link: https://www.econbiz.de/10005062700