Sovereign Debt Restructurings In Belize Achievements And Challenges Ahead

Author: Mr. Tamon Asonuma
Publisher: International Monetary Fund
ISBN: 1498329403
Size: 78.40 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: 58.44 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: 48.16 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.

The Challenge Of Slums

Author: United Nations Human Settlements Programme
Publisher: UN-HABITAT
ISBN: 9781844070374
Size: 25.74 MB
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The Challenge Of Slums from the Author: United Nations Human Settlements Programme. The Challenge of Slums presents the first global assessment of slums, emphasizing their problems and prospects. Using a newly formulated operational definition of slums, it presents estimates of the number of urban slum dwellers and examines the factors at all level, from local to global, that underlie the formation of slums as well as their social, spatial and economic characteristics and dynamics. It goes on to evaluate the principal policy responses to the slum challenge of the last few decades. From this assessment, the immensity of the challenges that slums pose is clear. Almost 1 billion people live in slums, the majority in the developing world where over 40 per cent of the urban population are slum dwellers. The number is growing and will continue to increase unless there is serious and concerted action by municipal authorities, governments, civil society and the international community. This report points the way forward and identifies the most promising approaches to achieving the United Nations Millennium Declaration targets for improving the lives of slum dwellers by scaling up participatory slum upgrading and poverty reduction programmes. The Global Report on Human Settlements is the most authoritative and up-to-date assessment of conditions and trends in the world's cities. Written in clear language and supported by informative graphics, case studies and extensive statistical data, it will be an essential tool and reference for researchers, academics, planners, public authorities and civil society organizations around the world.

Can Abenomics Succeed

Author: Dennis P. J. Botman
Publisher: International Monetary Fund
ISBN: 1484352203
Size: 17.38 MB
Format: PDF
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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.

Engineering

Author: Unesco
Publisher: UNESCO
ISBN: 9231041568
Size: 57.94 MB
Format: PDF, ePub
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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.

Modernizing China

Author: W. Raphael Lam
Publisher: International Monetary Fund
ISBN: 1475558546
Size: 38.54 MB
Format: PDF, ePub
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Modernizing China from the Author: W. Raphael Lam. China is at a critical juncture in its economic transformation as it tries to rebalance what is generally seen as an exhausted growth model. A unifying theme across the reforms that will deliver this transformation is that it can no longer be achieved by raising the amount of physical investment and government direction of resource allocation. Instead China is building a new set of policy frameworks that will allow markets to function more effectively—not unfettered markets, but markets that work efficiently, in line with broad social and other policy goals, and in a sustainable way. Hence, China is now building a new soft infrastructure, that is, the institutional plumbing that underpins and guides the functioning of markets as the key organizing principle toward achieving sustained economic and social progress. Against this background, this volume provides policymakers, academics, and the public with valuable information about policies and institutions in China today. It also looks at the road ahead and key principles that can help China in navigating it. The book focuses on issues crucial in the country’s transformation, such as tax policy and administration, social security, state-owned enterprise reform, medium-term expenditure frameworks, the role of local government finances, capital account liberalization, and renminbi internationalization. As China moves toward a more price-based allocation of resources, strengthening monetary policy frameworks and financial sector regulation will be particularly important in channeling resources to the most productive sectors and minimizing the risks of financial sector stress. Also, upgrading statistical frameworks will be critical for macroeconomic policymaking and investors.

Financial Integration In Latin America

Author: Mr.Charles Enoch
Publisher: International Monetary Fund
ISBN: 1475577141
Size: 80.19 MB
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Financial Integration In Latin America from the Author: Mr.Charles Enoch. With growth slowing across much of the Latin America as a result of the end of the commodity supercycle and economic rebalancing in China, as well as fragmentation of the international banking system, policies to stimulate growth are needed. This book examines the financial landscapes of seven Latin American economies—Brazil, Chile, Colombia, Mexico, Panama, Peru, and Uruguay—and makes a case for them to pursue regional financial integration. Chapters set out the benefits to the region of financial integration, the barriers to cross-border activity in banks, insurance companies, pension funds, and capital markets, as well as recommendations to address these barriers. Finally, the volume makes the case that regional integration now could be a step toward global integration in the short term.

Global Issues For Global Citizens

Author: Vinay Kumar Bhargava
Publisher: World Bank Publications
ISBN: 0821367323
Size: 22.51 MB
Format: PDF, Kindle
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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.

The World Is Flat 3 0

Author: Thomas L. Friedman
Publisher: Picador
ISBN: 9781429923071
Size: 51.91 MB
Format: PDF, ePub, Docs
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The World Is Flat 3 0 from the Author: Thomas L. Friedman. This Independence Day edition of The World is Flat 3.0 includes an an exclusive preview of That Used to Be Us: How America Fell Behind in the World It Invented and How We Can Come Back, by Thomas L. Friedman and Michael Mandelbaum, on sale September 5th, 2011. A New Edition of the Phenomenal #1 Bestseller "One mark of a great book is that it makes you see things in a new way, and Mr. Friedman certainly succeeds in that goal," the Nobel laureate Joseph E. Stiglitz wrote in The New York Times reviewing The World Is Flat in 2005. In this new edition, Thomas L. Friedman includes fresh stories and insights to help us understand the flattening of the world. Weaving new information into his overall thesis, and answering the questions he has been most frequently asked by parents across the country, this third edition also includes two new chapters--on how to be a political activist and social entrepreneur in a flat world; and on the more troubling question of how to manage our reputations and privacy in a world where we are all becoming publishers and public figures. The World Is Flat 3.0 is an essential update on globalization, its opportunities for individual empowerment, its achievements at lifting millions out of poverty, and its drawbacks--environmental, social, and political, powerfully illuminated by the Pulitzer Prize--winning author of The Lexus and the Olive Tree.