Fund's Lending Framework and Sovereign Debt : Annexes / International Monetary Fund.

Format:

Book

Author/Creator:

International Monetary Fund, author, issuing body.

Series:

Policy Papers ; No.14/028.

Policy Papers ; No.14/028

Language:

English

Subjects (All):

Sovereign wealth funds.

Physical Description:

1 online resource (111 pages) : illustrations.

Other Title:

Fund's Lending Framework and Sovereign Debt

Place of Publication:

Washington, D.C. : International Monetary Fund, 2014.

Contents:

ANNEX I. THE FUND'S EVOLVING APPROACH IN SOVEREIGN DEBT CRISES A. Overview B. The Emerging Markets Debt Crises of the 1980s C. The Capital Account Crises of 1995-2002 D. The Exceptional Access Policy and Sovereign Debt Crises since 2003 References ANNEX II. A REVIEW OF SOVEREIGN DEBT RESTRUCTURINGS SINCE THE 1980s A. Introduction B. Successful Avoidance of Sovereign Debt Restructuring C. Has Debt Restructuring Been Deployed Effectively? D. Conclusion Appendix Table A1. Samples of Large Public Debt Reductions in Emerging Economies Table A2. Samples of Debt Distress Episodes Identified Through Rating Downgrades References ANNEX III. COMPARATIVE COSTS AND BENEFITS OF REPROFILING, BAILOUT, AND RESTRUCTURING IN GRAY ZONE CASES-MARKET DYNAMICS AND INTERNATIONAL SPILLOVERS A. Implications of a Reformed Fund Policy Framework on Spreads and Maturity Structures of Government Debt B. Do Reprofilings and Restructurings Have Significantly Different Impacts on Spreads, Credit Ratings, and Market Access? C. What Factors Affect the Speed at Which Market Conditions Normalize After Different Types of Restructuring? D. How Did Sovereign Distress Spill Across International Borders? References ANNEX IV. REPROFILING AND DOMESTIC FINANCIAL STABILITY: RECENT EXPERIENCES References ANNEX V: POTENTIAL GAINS FROM SLOWER FISCAL CONSOLIDATION A. Model B. Calibration C. Results References.

Notes:

Description based on publisher supplied metadata and other sources.

Includes bibliographical references.

ISBN:

9781498383967

1498383963