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Jamaica Debt Exchange
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Book Synopsis Jamaica Debt Exchange by : Mr.David A. Grigorian
Download or read book Jamaica Debt Exchange written by Mr.David A. Grigorian and published by International Monetary Fund. This book was released on 2012-10-11 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sovereign debt restructuring operation in Jamaica undertaken in early-2010 was a unique experiment that perhaps offered less by way of upside, if compared to the conventional sovereign debt exchanges, but provided credible assurances against further downfall and financial sector distress. A case study of a highly indebted country with domestically held debt, the paper discusses the conditions leading to the exchange, the rationale behind it, as well as its operational aspects. Achievements of the exchange, too, are discussed in detail. The paper also outlines the risks stemming from the high levels of debt—which continue to remain high—requiring prompt and coordinated action by policymakers if the legacy of the debt exchange is to be preserved.
Book Synopsis Jamaica Debt Exchange by : David Grigorian
Download or read book Jamaica Debt Exchange written by David Grigorian and published by . This book was released on 2014 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sovereign debt restructuring operation in Jamaica undertaken in early-2010 was a unique experiment that perhaps offered less by way of upside, if compared to the conventional sovereign debt exchanges, but provided credible assurances against further downfall and financial sector distress. A case study of a highly indebted country with domestically held debt, the paper discusses the conditions leading to the exchange, the rationale behind it, as well as its operational aspects. Achievements of the exchange, too, are discussed in detail. The paper also outlines the risks stemming from the high levels of debt - which continue to remain high - requiring prompt and coordinated action by policymakers if the legacy of the debt exchange is to be preserved.
Book Synopsis Jamaica Debt Exchange by : Mr.David A. Grigorian
Download or read book Jamaica Debt Exchange written by Mr.David A. Grigorian and published by International Monetary Fund. This book was released on 2012-10-09 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sovereign debt restructuring operation in Jamaica undertaken in early-2010 was a unique experiment that perhaps offered less by way of upside, if compared to the conventional sovereign debt exchanges, but provided credible assurances against further downfall and financial sector distress. A case study of a highly indebted country with domestically held debt, the paper discusses the conditions leading to the exchange, the rationale behind it, as well as its operational aspects. Achievements of the exchange, too, are discussed in detail. The paper also outlines the risks stemming from the high levels of debt—which continue to remain high—requiring prompt and coordinated action by policymakers if the legacy of the debt exchange is to be preserved.
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 :148432000X Total Pages :118 pages Book Rating :4.4/5 (843 download)
Book Synopsis Jamaica by : International Monetary Fund. Western Hemisphere Dept.
Download or read book Jamaica written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2013-05-17 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the past three decades, Jamaica has shown low economic growth and high public debt, and has faced other social challenges. To help restore competitiveness and improve financial market conditions, the authorities have come up with a comprehensive four-year economic program—2013/14 through 2016/17—that aims to avert immediate crisis risks and create the necessary conditions for sustained growth. The program’s main pillars include structural reforms, fiscal adjustments supported by extensive fiscal reforms, and improved social protection programs.
Book Synopsis Sovereign Debt Restructurings 1950-2010 by : Mr.Udaibir S. Das
Download or read book Sovereign Debt Restructurings 1950-2010 written by Mr.Udaibir S. Das and published by International Monetary Fund. This book was released on 2012-08-01 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950–2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt agreements with the Paris Club. We present new stylized facts on the outcome and process of debt restructurings, including on the size of haircuts, creditor participation, and legal aspects. In addition, the paper summarizes the relevant empirical literature, analyzes recent restructuring episodes, and discusses ongoing debates on crisis resolution mechanisms, credit default swaps, and the role of collective action clauses.
Book Synopsis Jamaica by : International Monetary Fund
Download or read book Jamaica written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-12-09 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic activity is weak, but showing incipient signs of a recovery. Domestic financial markets remain stable and the growth outlook has improved. Better prospects for agriculture, mining and quarrying, and construction are expected to increase growth. Macroeconomic performance under the program continues to be positive. Jamaica has taken advantage of the favorable market conditions to ease monetary conditions and build international reserves, and continues to demonstrate a strong commitment to the program. The financial sector has weathered well the impact of the debt exchange.
Download or read book Jamaica written by Claremont Kirton and published by Hyperion Books. This book was released on 1992 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :148438783X Total Pages :87 pages Book Rating :4.4/5 (843 download)
Book Synopsis Jamaica by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Jamaica written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2018-12-03 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: The macroeconomic environment has improved, reflecting the authorities’ efforts, supported by an IMF arrangement. Previously, years of high fiscal deficits, public enterprise borrowing, and financial sector bailouts led to rapid government debt accumulation, crowded out private credit, increased financial dollarization, and stifled economic growth. Fiscal discipline has been essential to reduce public debt (to about 100 percent of GDP). With government debt accounting for a sizable share of financial institutions’ assets, falling interest rates on government debt are leading to a search for yield. Also, entrenched structural obstacles, including high crime, bureaucratic processes, insufficient labor force skills, and poor access to finance still constrain economic growth. The authorities have made good progress in implementing the 2006 FSAP recommendations. Work on the regulatory framework has significantly advanced in several areas such as securities dealers’ activities, powers to the Bank of Jamaica (BoJ), payment systems, and the introduction of the centralized securities depository. However, the crisis management framework and risk-based supervision work has been lagging.
Book Synopsis The Origins and Consequences of Jamaica's Debt Crisis, 1970-1990 by : Kari Levitt
Download or read book The Origins and Consequences of Jamaica's Debt Crisis, 1970-1990 written by Kari Levitt and published by . This book was released on 1991 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1455203475 Total Pages :105 pages Book Rating :4.4/5 (552 download)
Book Synopsis Jamaica by : International Monetary Fund
Download or read book Jamaica written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-07-30 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: Jamaica has been stuck in a cycle of low growth and high debt dynamics. It has been severely impacted by the global economic slowdown, and finances have deteriorated. Jamaica’s objective of virtually eliminating the overall public sector deficit is appropriate. Embedding the medium-term fiscal consolidation effort in a comprehensive set of fiscal structural reforms is the key. Strengthening regulatory and supervisory frameworks along with legislative and structural reforms will reduce systemic risks to the financial system. The proposed program carries risks but these risks are manageable.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1455203483 Total Pages :101 pages Book Rating :4.4/5 (552 download)
Book Synopsis Jamaica by : International Monetary Fund
Download or read book Jamaica written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-08-18 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: Jamaica has performed well under the Stand-By Arrangement program. Executive Directors commended that overall macroeconomic performance under the program has been encouraging. Directors welcomed the program aimed at fiscal responsibility legislation and central treasury management, public debt restructuring, financial sector reforms, including the improvement of consolidated supervision and the regulation of nonbanks. They agreed that the sale of Air Jamaica represents an important milestone. Based on overall satisfactory performance of Jamaica on completion of the First Review of the SBA, the IMF approved immediate fund disbursement.
Book Synopsis The Debt Problem in Jamaica by : Omar Davies
Download or read book The Debt Problem in Jamaica written by Omar Davies and published by . This book was released on 1986 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Developing Sustainable Balance of Payments in Small Countries by : Andre Haughton
Download or read book Developing Sustainable Balance of Payments in Small Countries written by Andre Haughton and published by Springer. This book was released on 2017-07-06 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses Jamaica’s ability to satisfy its short and long run foreign currency obligations in light of recurrent balance of payment support from international lending agencies. Jamaica is one of the top five indebted nations in the world, and despite entering 13 successive arrangements with the International Monetary Fund over the past 40 years, its depreciating currency continues to drive up debt servicing requirements. The island nation’s longstanding relationship with multilateral lending agencies like the IMF serves as a case study for other developing countries that are unable to generate sufficient intrinsic net international reserves and, consequently, suffer from incredibly low GDP growth per annum. The book closes with policy recommendations to bolster the Jamaican economy into solvency so that it can create a sustainable foreign debt repayment plan, and suggests strategies for supporting local economic objectives within global geopolitical constraints.
Book Synopsis Jamaica’s Evolving Relationship with the IMF by : Christine Clarke
Download or read book Jamaica’s Evolving Relationship with the IMF written by Christine Clarke and published by Springer Nature. This book was released on 2021-05-05 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores Jamaica’s contemporary relationship with the International Monetary Fund since 2010. It looks at Jamaica’s high debt and its inability to access financial support amidst international capital market restrictions, contextualizing harsh socio-economic realities. This book discusses Jamaica’s second return to the IMF and the resulting network of actors, governance and political and socio-economic efforts to re-engender a relationship with a “new’ IMF. Credibility was restored, demonstrated by and leading to the successful implementation of the 2013 Extended Fund Facility and subsequent exit to a Precautionary Stand-By Arrangement in 2016. Clarke and Nelson signal from their analyses lessons learned, discussing the economic prognosis for Jamaica as well as their relationship with the IMF under the shadow of the COVID pandemic.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1451820062 Total Pages :112 pages Book Rating :4.4/5 (518 download)
Book Synopsis Jamaica by : International Monetary Fund
Download or read book Jamaica written by International Monetary Fund and published by International Monetary Fund. This book was released on 1999-02-18 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper presents an overview of financial system developments in Jamaica. The financial system experienced substantial growth over 1989–95 as a result of the liberalization of financial markets and the reduction in government involvement in the industry through the privatization of banks. The paper highlights that banks that had been acquired by the government in the 1970s were sold back to the private sector. This paper also reviews developments in monetary policy in Jamaica, and the role of the public sector.
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 :1513544446 Total Pages :33 pages Book Rating :4.5/5 (135 download)
Book Synopsis Jamaica by : International Monetary Fund. Western Hemisphere Dept.
Download or read book Jamaica written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2020-05-18 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses Jamaica’s Request for Purchase Under the Rapid Financing Instrument (RFI). The Jamaican authorities have proactively responded to the coronavirus disease 2019 (COVID-19) pandemic. Nevertheless, despite the authorities’ best efforts, the pandemic is severely impacting the Jamaican economy, as a sudden stop in tourism and falling remittances are generating a sizable balance-of-payments need. Moreover, the economic outlook remains subject to an unusually high degree of uncertainty. The disbursement under the RFI will strengthen reserves and help catalyze additional support from other international financial institutions and development partners. The authorities’ policy response to the COVID-19 crisis is appropriate, including the timely adoption of targeted measures to support jobs and provide resources to vulnerable segments of the population. Once the crisis abates, building on their demonstrated commitment to reform and stability-oriented measures, the authorities should continue the implementation of their ambitious reform agenda to support the economic recovery and ensure strong and sustainable economic growth.
Download or read book Jamaica, Selected Issues written by and published by . This book was released on 2006 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:
