Sovereign Debt Restructurings In Belize Achievements And Challenges Ahead

Author: Mr. Tamon Asonuma
Publisher: International Monetary Fund
ISBN: 1498329403
Size: 24.80 MB
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Sovereign Debt Restructurings In Belize Achievements And Challenges Ahead from the Author: Mr. Tamon Asonuma. This paper examines the causes, processes, and outcomes of the two Belize sovereign debt restructurings in 2006–07 and in 2012–13 that occurred outside of an IMF-supported program. It finds that the motivation for the two debt restructurings differed, as the former was driven by external liquidity concerns while the latter was motivated by a substantial increase in the coupon rates and future fiscal solvency concerns. Despite differential treatment between residents and non-residents, both 2006–07 and 2012–13 debt exchanges were executed through collaborative engagement, due in part to the existence of a broad-based creditor committee and the authorities’ effective communication strategy. However, while providing temporary liquidity relief, neither of the debt restructurings properly addressed long-term debt sustainability concerns. Going forward, the success of the 2012–13 debt restructuring will still depend on the country’s ability to strengthen fiscal efforts and public debt management framework.

Sovereign Debt And The Financial Crisis

Author: Carlos A. Primo Braga
Publisher: World Bank Publications
ISBN: 9780821385432
Size: 60.80 MB
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Sovereign Debt And The Financial Crisis from the Author: Carlos A. Primo Braga. The book presents and discusses policy-relevant research on the current debt challenges which developing, emerging market and developed countries face. Its value added lies in the integrated approach of drawing on theoretical research and evidence from practitioners' experience in developing and emerging market countries.

Debt Relief And Beyond

Author: Carlos A. Primo Braga
Publisher: World Bank Publications
ISBN: 9780821378755
Size: 70.95 MB
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Debt Relief And Beyond from the Author: Carlos A. Primo Braga. The history of debt relief goes back several decades. It reveals that a country s accumulation of unsustainable debt stems from such factors as deficiencies in macroeconomic management, adverse terms-of-trade shocks, and poor governance. Debt-relief initiatives have provided debt-burdened countries with the opportunity for a fresh start, but whether the benefits of debt relief can be preserved depends on transformations in a country s policies and institutions. In 1996, the Heavily Indebted Poor Countries (HIPC) Initiative was launched as the first comprehensive, multilateral, debt-relief framework for low-income countries. In 2005, the Multilateral Debt Relief Initiative was established, which increased the level of debt relief provided to HIPCs. As of early 2009, assistance through these two initiatives had been committed to 35 countries and amounted to US$117 billion in nominal terms, or half of the 2007 GDP of these countries. 'Debt Relief and Beyond' assesses the implications of debt relief for low-income countries and how its benefits can be preserved and used to fight poverty. The chapter authors bring unique operational experience to their examination of debt relief, debt sustainability, and debt management. Several key questions are addressed, including, what consequences does debt relief have for poverty-reducing expenditures, growth, and access to finance? Can debt relief guarantee debt sustainability? How can debt management at all levels of government be improved? What lessons can be learned from countries that have experienced debt restructuring? Finally, this book provides sound empirical evidence using current econometric techniques.

Life In The Eurozone

Author: Franklin Allen
Publisher:
ISBN: 9780983646907
Size: 67.42 MB
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Life In The Eurozone from the Author: Franklin Allen.

Can Abenomics Succeed

Author: Dennis P. J. Botman
Publisher: International Monetary Fund
ISBN: 1484352203
Size: 44.76 MB
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Can Abenomics Succeed from the Author: Dennis P. J. Botman. Japan’s revitalization plan, dubbed the “three arrows of Abenomics,” devises a three-pronged strategy—combining fiscal, monetary, and structural policies—to overcome that country's apparent inability to sustain economic recovery. This book is the first comprehensive assessment of Abenomics and the reforms needed to make it a success, including aggressive monetary easing, growth-friendly fiscal consolidation, and structural and financial sector reforms.

Innovative Financing For Development

Author: Suhas Ketkar
Publisher: World Bank Publications
ISBN: 9780821377062
Size: 19.37 MB
Format: PDF
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Innovative Financing For Development from the Author: Suhas Ketkar. Developing countries need additional, cross-border capital channeled into their private sectors to generate employment and growth, reduce poverty, and meet the other Millennium Development Goals. Innovative financing mechanisms are necessary to make this happen. 'Innovative Financing for Development' is the first book on this subject that uses a market-based approach. It compiles pioneering methods of raising development finance including securitization of future flow receivables, diaspora bonds, and GDP-indexed bonds. It also highlights the role of shadow sovereign ratings in facilitating access to international capital markets. It argues that poor countries, especially those in Sub-Saharan Africa, can potentially raise tens of billions of dollars annually through these instruments. The chapters in the book focus on the structures of the various innovative financing mechanisms, their track records and potential for tapping international capital markets, the constraints limiting their use, and policy measures that governments and international institutions can implement to alleviate these constraints.

Global Issues For Global Citizens

Author: Vinay Kumar Bhargava
Publisher: World Bank Publications
ISBN: 0821367323
Size: 67.47 MB
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Global Issues For Global Citizens from the Author: Vinay Kumar Bhargava. Written by 27 World Bank experts, this book draws on the Bank's unique global capabilities and experience to promote an understanding of key global issues that cannot be solved by any one nation alone in an increasingly interconnected world. It describes the forces that are shaping public and private action to address these issues and highlights the Bank's own work in these areas. Covering four broad themes (global economy, global human development, global environment, and global governance), this comprehensive volume provides an introduction to today's most pressing global issues -- from pove.

A Better Globalization

Author: Kemal DerviĹź
Publisher: Ctr for Global Development
ISBN: 9780815717638
Size: 77.14 MB
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A Better Globalization from the Author: Kemal DerviĹź. "Discusses the two broad dimensions of the globalization debate--economic, including finance, trade, poverty, and health; and political, covering security, the fight against terrorism, and the role of international institutions--and the significance of democratic consent in the twenty-first century"--Provided by publisher.

Engineering

Author: Unesco
Publisher: UNESCO
ISBN: 9231041568
Size: 73.51 MB
Format: PDF, ePub, Docs
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Engineering from the Author: Unesco. This report reviews engineering's importance to human, economic, social and cultural development and in addressing the UN Millennium Development Goals. Engineering tends to be viewed as a national issue, but engineering knowledge, companies, conferences and journals, all demonstrate that it is as international as science. The report reviews the role of engineering in development, and covers issues including poverty reduction, sustainable development, climate change mitigation and adaptation. It presents the various fields of engineering around the world and is intended to identify issues and challenges facing engineering, promote better understanding of engineering and its role, and highlight ways of making engineering more attractive to young people, especially women.--Publisher's description.

Mobilizing The Private Sector For Public Education

Author: Harry Anthony Patrinos
Publisher: World Bank Publications
ISBN: 0821372009
Size: 33.27 MB
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Mobilizing The Private Sector For Public Education from the Author: Harry Anthony Patrinos. There has been a burgeoning of public-private partnerships in different parts of the world. The partnerships differ in form and structure, in the extent of public and private participation, and in the forms of their engagement. The essays in this volume are written mainly from the perspective of providers. They provide valuable insights into the purpose, trend and impact of public-private partnerships in different parts of the world, as well as an understanding of the barriers they face.