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Sovereign Bond Restructuring

Sovereign Bond Restructuring »

Source: Sovereign Bond Restructuring : Collective Action Clauses and official Crisis Intervention

Volume/Issue: 2003/134

Series: IMF Working Papers

Author(s): Kenneth Kletzer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2003

ISBN: 9781451855623

Keywords: international financial architecture, bond, bondholders, bonds, debt renegotiation, International Lending and Debt Problems, International Economic Order,

This paper compares the restructuring of sovereign bonds with and without collective action clauses. One conclusion is that collective action clauses can allow efficient debt renegotiation in a formal model of sove...

The Impact of Global Liquidity on Financial Landscapes and Risks in the ASEAN-5 Countries

The Impact of Global Liquidity on Financial Landscapes and Risks in the ASEAN-5 Countries »

Source: The Impact of Global Liquidity on Financial Landscapes and Risks in the ASEAN-5 Countries

Volume/Issue: 2015/211

Series: IMF Working Papers

Author(s): Tao Sun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 September 2015

ISBN: 9781513543734

Keywords: financial landscape, liquidity, debt, security, international debt security, International Lending and Debt Problems, financial stability.,

This paper analyzes the transmission of global liquidity to the ASEAN-5 countries (ASEAN-5), including the impact on financial landscapes and risks to financial stability. It finds that global liquidity transmissio...

Strengthening IMF Crisis Prevention

Strengthening IMF Crisis Prevention »

Source: Strengthening IMF Crisis Prevention

Volume/Issue: 2005/206

Series: IMF Working Papers

Author(s): Jonathan Ostry , and Jeronimo Zettelmeyer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2005

ISBN: 9781451862256

Keywords: IMF surveillance, capital markets, crisis lending, financial crises, capital inflows, International Economic Order, International Monetary Arrangements and Institutions, International Lending and Debt Problems,

To better fulfill its crisis-prevention mandate, IMF surveillance needs to provide stronger incentives for countries to follow good policies and for markets to avoid boom-bust cycles in capital flows. To this end,...

Catalyzing Capital Flows

Catalyzing Capital Flows »

Source: Catalyzing Capital Flows : Do IMF-Supported Programs Work As Commitment Devices?

Volume/Issue: 2003/100

Series: IMF Working Papers

Author(s): Diego Saravia , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2003

ISBN: 9781451852424

Keywords: signaling, bond, bond issuance, bonds, capital flows, international capital, International Monetary Arrangements and Institutions, International Lending and Debt Problems,

An objective of IMF-supported programs is to help countries improve their access to international capital markets. In this paper, we examine the issue whether IMF-supported programs influence the ability of develop...

Toward a Statutory Approach to Sovereign Debt Restructuring

Toward a Statutory Approach to Sovereign Debt Restructuring »

Source: Toward a Statutory Approach to Sovereign Debt Restructuring : Lessons From Corporate Bankruptcy Practice Around the World

Volume/Issue: 2003/13

Series: IMF Working Papers

Author(s): Patrick Bolton

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2003

ISBN: 9781451843026

Keywords: sovereign dept, debt restructuring, debt, restructuring, creditors, International Lending and Debt Problems,

This paper provides an overview of key elements of Corporate Bankruptcy Codes and Practice around the world that are relevant to the debate on Sovereign Debt Restructuring. It highlights four components common to m...

Shedding Light on Shadow Banking

Shedding Light on Shadow Banking »

Source: Shedding Light on Shadow Banking

Volume/Issue: 2015/1

Series: IMF Working Papers

Author(s): Artak Harutyunyan , Alexander Massara , Giovanni Ugazio , Goran Amidzic , and Richard Walton

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 January 2015

ISBN: 9781498391788

Keywords: noncore liabilities, financial institutions, deposits, instruments, banking system, International Lending and Debt Problems,

In this paper, we develop an alternative approach to estimate the size of the shadow banking system, using official data reported to the IMF complemented by other data sources. We base our alternative approach on t...

International Financial Contagion and the IMF

International Financial Contagion and the IMF »

Source: International Financial Contagion and the IMF : A Theoretical Framework

Volume/Issue: 2001/137

Series: IMF Working Papers

Author(s): Peter Clark , and Haizhou Huang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2001

ISBN: 9781451855913

Keywords: international financial contagion, contagion, capital market, financial contagion, international capital, Financial Markets and the Macroeconomy, International Monetary Arrangements and Institutions, International Lending and Debt Problems,

We provide a model of contagion where countries borrow or lend for consumption smoothing at the market interest rate or a lower IMF rate. Highly indebted countries hit by large negative shocks to output will defaul...

Inflation Targeting and Country Risk

Inflation Targeting and Country Risk »

Source: Inflation Targeting and Country Risk : An Empirical Investigation

Volume/Issue: 2013/21

Series: IMF Working Papers

Author(s): Armand Fouejieu , and Scott Roger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 2013

ISBN: 9781475554717

Keywords: inflation, monetary policy, inflation rate, effect of inflation, International Lending and Debt Problems,

The sovereign debt crisis in Europe has highlighted the role of country risk premia as a link between countries' fiscal and external balances, financial conditions and monetary policy. The purpose of this paper is...

Central Bank Credit to the Government

Central Bank Credit to the Government »

Source: Central Bank Credit to the Government : What Can We Learn From International Practices?

Volume/Issue: 2012/16

Series: IMF Working Papers

Author(s): Marcela Matamoros-Indorf , Mrinalini Sharma , Simon Townsend , and Luis Jácome

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

ISBN: 9781463931216

Keywords: lending to the government, international practices, central bank, inflation, government securities,

Using a central bank legislation database, this paper documents and analyzes worldwide institutional arrangements for central bank lending to the government and identifies international practices. Key findings are:...

International Capital Flows and Debt Dynamics

International Capital Flows and Debt Dynamics »

Source: International Capital Flows and Debt Dynamics

Volume/Issue: 2012/175

Series: IMF Working Papers

Author(s): Martin Evans

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2012

ISBN: 9781475505238

Keywords: External Imbalances, International Debt, International Solvency, Exorbitant Privilege, foreign asset, foreign assets, foreign liabilities, capital gains, International Lending and Debt Problems,

This paper presents a new model for studying international capital flows and debt dynamics that emphasizes the role played by expectations concerning future trade flows and returns. I use the model to estimate the...