Comments: On Debt Management and Collective-Action Clauses
Author:
Mr. Pablo Emilio Guidotti https://isni.org/isni/0000000404811396 International Monetary Fund

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Language:
English
Print Publication Date:
18 Dec 2000
Keywords:
BOOK; crisis; financing; exchange rate; market; financial system; IMF policy advice; IMF Policy recommendation; IMF reform; emerging market crisis; emerging market country; Exchange rates; Emerging and frontier financial markets; Capital flows; Currencies; Global; Asia and Pacific; East Asia; Europe; Southeast Asia; private sector involvement; financing package; emerging market issuer; liquidity management policy; financing requirement; Bonds; Government debt management; Debt management

Abstract

The 1990s have witnessed significant volatility in capital flows, especially in the second half of the decade. Volatility of capital flows to the private sector, in turn, has been closely associated with large swings in economic activity. For example, Figure 1 shows the recent relationship between capital flows to the private sector and GDP growth in Argentina.

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Cover Reforming the International Monetary and Financial System
Reforming the International Monetary and Financial System
ISBN:
9781557758354
Publication Date:
18 Dec 2000
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557758354.071
Pages:
448
Front Matter
Part I. Key Issues of Reform
Part II. Maintaining Stability Under High Capital Mobility
3 The Euro, Yen, and Dollar: Making the Case Against Benign Neglect
Comments: Let Exchange Rates Float
Comments: Foreign Exchange Origins of Japan’s Liquidity Trap
Comments: The Case for Benign Neglect
4 Moderating Fluctuations in Capital Flows to Emerging Market Economies
Comments: Lessons from the Czech Experience
Comments: Emerging Market Crises: Origins and Remedies
Comments: Who Is to Blame for the Crises?
Comments: Policy Options for Capital Importers
5 When Capital Inflows Suddenly Stop: Consequences and Policy Options
comments: The Balance Between Adjustment and Financing
Comments: The Balance Between Structural and Macroeconomic Adjustment
Comments: Can the Right Balance Be Achieved?
Comments: On Dysfunctional Adjustment and Financing
6 Is Greater Private Sector Burden Sharing Impossible?
Comments: Private Sector Participation in Crisis Prevention and Resolution
Comments: More Private Sector Involvement and Less Official Financing
Comments: Private Sector Burden Sharing
Part III. The Role of the International Monetary Fund
Part IV. Conclusion
Back Matter