Browse

You are looking at 1 - 10 of 35 items for :

  • External debt x
Clear All
Przemyslaw Gajdeczka

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.

International Monetary Fund. External Relations Dept.

Crisis Stalls Globalization: Reshaping the World Economy" examines the multiple facets of the recession-from the impact on individual economies to the effect on the global payments imbalances that were partially at the root of the crisis-and offers a variety of suggestions for supporting a recovery and averting future crises. Several IMF studies shed light on the depth of the crisis-including a survey of the sharp drop in trade finance, along with quantitative findings about the direct and indirect costs of the financial turbulence-and debate what is to be done from several angles, including the redesign of the regulatory framework and ways to plug large data gaps to prevent future crises and aid in the creation of early warning systems. Opinion pieces discuss the shifting boundaries between the state and markets, the agenda for financial sector reform, and the governance of global financial markets. The issue also includes a historical perspective to see when restructuring the global financial architecture actually succeeds. "People in Economics" profiles Nouriel Roubini; "Back to Basics" looks at what makes a recession; and "Data Spotlight" examines Latin America's debt.

Mr. Joshua E. Greene and Delano Villanueva

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.

Mr. G. Russell Kincaid, K. Burke Dillon, Mr. Maxwell Watson, and Ms. Chanpen Puckahtikom

Abstract

The number of debt restructurings has increased sharply since the emergence of widespread payments difficulties in 1982. In that year, only 7 bank and 6 official restructuring agreements or temporary deferments were negotiated; in 1984, there were 21 and 13 respectively. Moreover, a substantial portion of the recent new private lending being made to developing countries has been coordinated under restructuring arrangements.

Mr. G. Russell Kincaid, K. Burke Dillon, Mr. Maxwell Watson, and Ms. Chanpen Puckahtikom

Abstract

No formal framework existed for conducting commercial bank debt negotiations when the serious problems of major debtor countries became evident during the course of 1982. Earlier bank debt restructurings were sporadic, involved relatively small amounts, and posed less serious difficulties for bank management and for the international financial system. The problems emerging in 1982 required procedures to restructure large volumes of debt due to hundreds of creditor banks, and to help resolve issues of burden sharing among private and official creditors. Moreover, both creditor banks and authorities in debtor countries needed a framework to facilitate the maintenance of short-term bank exposure during and after debt restructuring and to reach agreement where appropriate on commitments of new money.

Mr. G. Russell Kincaid, K. Burke Dillon, Mr. Maxwell Watson, and Ms. Chanpen Puckahtikom

Abstract

This section describes the principal features of official multilateral debt restructurings that took place during 1983–84, particularly in comparison with agreements reached during the preceding eight-year period from 1975. It documents the sharp increase in the number of reschedulings and focuses on notable recent developments, especially the trend toward an easing in the repayment terms for some countries that have had successive reschedulings. It also addresses issues relating to multiyear debt restructurings by official creditors with reference to the recent MYRA for Ecuador.

International Monetary Fund
Output growth, inflation, and the external current account balance are the major economic developments discussed in this study. The macroeconomic framework was modified to reflect recent information. The reforms in the banking system are helpful in completing the process of dealing with the failed banks. The authorities are contacting international financial experts to manage the debt reductions. Finally, the central government will need to be vigilant in implementing its challenging financing program. The program contains several prior actions to complete the first review.
International Monetary Fund. Western Hemisphere Dept.
This paper discusses Ecuador’s Request for Purchase Under the Rapid Financing Instrument (RFI). The Ecuadoran authorities are requesting financial assistance under the IMF’s RFI to address the urgent balance of payments (BOP) needs associated with emergency and reconstruction efforts. Given the urgency of their request, they are not currently in a position to implement a full-fledged upper-credit-tranche program, and they believe they can make suitable adjustments to manage their medium-term BOP challenges. Given the nature of the emergency, the IMF staff supports the authorities’ request for a purchase under the RFI.