Principles of Household Debt Restructuring

Download Principles of Household Debt Restructuring PDF Online Free

Author :
Publisher : International Monetary Fund
ISBN 13 : 1462376770
Total Pages : 30 pages
Book Rating : 4.4/5 (623 download)

DOWNLOAD NOW!


Book Synopsis Principles of Household Debt Restructuring by : Thomas Laryea

Download or read book Principles of Household Debt Restructuring written by Thomas Laryea and published by International Monetary Fund. This book was released on 2009-06-26 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the estimated compliance with the macroeconomic convergence targets for 2008, based on estimates contained in the IMF’s Regional Economic Outlook: Sub-Saharan Africa (the REO). SADC’s regional economic integration agenda includes a macroeconomic convergence program, intended to achieve and maintain macroeconomic stability in the region, thereby contributing to faster economic growth and laying the basis for eventual monetary union. Targets for key macroeconomic variables have been set out for 2008, 2012, and 2018. Most SADC member states have recorded solid macroeconomic performance in recent years, in general coming close to, and in many cases surpassing, the convergence targets specified for 2008. A notable exception in this regard is Zimbabwe, which was in the grip of hyperinflation. The macroeconomic targets for 2012 are ambitious and, in some cases, warrant further evaluation, given that achieving the targets may be neither necessary nor sufficient to achieve good macroeconomic results.

Debt Restructuring

Download Debt Restructuring PDF Online Free

Author :
Publisher :
ISBN 13 : 9780888042002
Total Pages : pages
Book Rating : 4.0/5 (42 download)

DOWNLOAD NOW!


Book Synopsis Debt Restructuring by : John David Honsberger

Download or read book Debt Restructuring written by John David Honsberger and published by . This book was released on 1990 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Debt Restructuring

Download Debt Restructuring PDF Online Free

Author :
Publisher :
ISBN 13 : 9780888042002
Total Pages : pages
Book Rating : 4.0/5 (42 download)

DOWNLOAD NOW!


Book Synopsis Debt Restructuring by : John D. Honsberger

Download or read book Debt Restructuring written by John D. Honsberger and published by . This book was released on 1990-01-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Sovereign Debt Restructurings 1950-2010

Download Sovereign Debt Restructurings 1950-2010 PDF Online Free

Author :
Publisher : International Monetary Fund
ISBN 13 : 1475505531
Total Pages : 128 pages
Book Rating : 4.4/5 (755 download)

DOWNLOAD NOW!


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.

Households Debt Restructuring

Download Households Debt Restructuring PDF Online Free

Author :
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (13 download)

DOWNLOAD NOW!


Book Synopsis Households Debt Restructuring by : Henri Fraisse

Download or read book Households Debt Restructuring written by Henri Fraisse and published by . This book was released on 2017 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: When facing financial distress, French households can file a case to a "households' over-indebtedness commission" (HDC). The HDC can order an immediate repayment or grant a debt suspension. Exploiting the random assignment of bankruptcy filings to managers, we show that a debt suspension has a very significant and negative effect on the likelihood to re-default but that this impact is only short-lived. The effect depends not only on the characteristics of the households but also on the nature of their indebtedness. Our results imply that rather than focusing on a specific debt profile, above all a deeper restructuring of the expenditure side is necessary to make the plan sustainable. They also single out specific banks lending to particular fragile households. They indicate the importance of policy actions on budget counseling, as well as the importance of regulation of credit distribution to avoid both entering into bankruptcy and re-filing for bankruptcy.

Corporate Debt Restructuring in Emerging Markets

Download Corporate Debt Restructuring in Emerging Markets PDF Online Free

Author :
Publisher : Springer Nature
ISBN 13 : 3030813061
Total Pages : 422 pages
Book Rating : 4.0/5 (38 download)

DOWNLOAD NOW!


Book Synopsis Corporate Debt Restructuring in Emerging Markets by : Richard Marney

Download or read book Corporate Debt Restructuring in Emerging Markets written by Richard Marney and published by Springer Nature. This book was released on 2021-09-02 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate debt restructurings in the emerging markets have always presented special challenges. Today, as the global economy emerges from the COVID-19 pandemic and businesses look to pick up the pieces, this is even more true. For many, the financial hangover of the lockdowns and market disruptions linger and threaten their independence, even their survival. This peril is more acute in the emerging and frontier markets. Weaker economic fundamentals and institutional resiliency often intensify the challenge to return to pre-COVID-19 operating levels and financial sustainability. In this context, borrowers invariably must address the imbalance of substantial existing debt with the “new reality” of their business operations and revenues. This book, using case studies, presents a full, detailed narrative of a fictitious troubled bank in an emerging market, with characters, dialogues, and negotiations. It also includes a series of discussion questions with suggested answers, to draw out key issues from the case. In doing so, this initial narrative offers a substantive analysis of the five main phases and principles of a restructuring: (1) pre-restructuring, (2) the decision to restructure, (3) the case set-up, (4) structuring and negotiation, and lastly (5) implementation. In each chapter, the book outlines the main elements of the phases and shows how the elements are applied in practice. The book also presents separate chapters on exogenous shocks (with a focus on the COVID-19 pandemic as an example of such shocks), macroeconomics, and legal issues present in cross-border restructurings. It will be of interest to the international professional financial and legal community, primarily junior-to mid-level financiers, business people, and lawyers.

Sovereign Debt Restructuring and Growth

Download Sovereign Debt Restructuring and Growth PDF Online Free

Author :
Publisher : International Monetary Fund
ISBN 13 : 1475526520
Total Pages : 42 pages
Book Rating : 4.4/5 (755 download)

DOWNLOAD NOW!


Book Synopsis Sovereign Debt Restructuring and Growth by : Lorenzo Forni

Download or read book Sovereign Debt Restructuring and Growth written by Lorenzo Forni and published by International Monetary Fund. This book was released on 2016-08-16 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the effect of sovereign debt restructurings with external private creditors on growth during the period 1970-2010. We find that there are bad and good (or not so bad) debt restructurings for growth. While growth generally declines in the aftermath of a sovereign debt restructuring, agreements that allow countries to exit a default spell (final restructurings) are associated with improving growth. The impact can be significant. In general, three years after restructuring, growth is about 5 percent lower compared to countries that did not face restructuring over the same period. The exception is for final restructurings, which result in positive growth in the years immediately after the restructuring. Final restructurings tend to be better for growth because they reduce countries’ debt, with the strongest effect for countries that exit restructurings with relatively low debt levels.

A Framework for a Formal Sovereign Debt Restructuring Mechanism

Download A Framework for a Formal Sovereign Debt Restructuring Mechanism PDF Online Free

Author :
Publisher :
ISBN 13 :
Total Pages : 55 pages
Book Rating : 4.:/5 (13 download)

DOWNLOAD NOW!


Book Synopsis A Framework for a Formal Sovereign Debt Restructuring Mechanism by : Charles W. Mooney

Download or read book A Framework for a Formal Sovereign Debt Restructuring Mechanism written by Charles W. Mooney and published by . This book was released on 2016 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: Given the ongoing work on a multilateral restructuring process for sovereign debt in the UN, consideration of the content and implementation of a sovereign debt restructuring mechanism (SDRM) is timely. The framework and content of the SDRM proposed here differs from earlier proposals in several important respects. For the classification and supermajority voting of claims in the approval a restructuring plan, it would mimic the structure and operation of the model collective action clauses (Model CACs) proposed by the International Capital Markets Association. Restructuring under a qualified sovereign debt restructuring law (QSDRL) would be guided by four principles: (i) observe the KISS (keep it simple, stupid) principle, (ii) follow the Model CACs, (iii) limit the discretion of an administrator of a proceeding, and (iv) address only major current problems.A convention would oblige each adopting state to recognize and enforce a restructuring plan approved under a QSDRL of another adopting state. This obligation would be subject to exceptions along the lines of those under the New York Convention on arbitral awards. The QSDRL would employ novel methods of binding creditors under an approved restructuring plan. The convention would specify the requirements for a QSDRL while leaving implementing legislation to adopting states wishing to enact a QSDRL. A QSDRL would address many matters normally covered in an insolvency law, such as the requirements for approval of a plan. But it would not provide for the cramdown of dissenting classes of creditors, which would offend the norm of super-majority voting and require a tribunal with substantial discretion. It also would not provide for priority interim financing, as priority rules necessarily would offend the KISS principle and could be addressed outside the QSDRL. The proposed QSDRL would embrace a voluntary, contractual, and market-based approach -- standards advocated by SDRM opponents such as the United States, the EU, and the IMF.

Global Waves of Debt

Download Global Waves of Debt PDF Online Free

Author :
Publisher : World Bank Publications
ISBN 13 : 1464815453
Total Pages : 403 pages
Book Rating : 4.4/5 (648 download)

DOWNLOAD NOW!


Book Synopsis Global Waves of Debt by : M. Ayhan Kose

Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

Ireland

Download Ireland PDF Online Free

Author :
Publisher : International Monetary Fund
ISBN 13 : 149831855X
Total Pages : 60 pages
Book Rating : 4.4/5 (983 download)

DOWNLOAD NOW!


Book Synopsis Ireland by : International Monetary Fund. Finance Dept.

Download or read book Ireland written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2015-01-29 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents an Ex Post Evaluation of the 2010 Extended Fund Facility (EFF) arrangement with Ireland. The Fund approved in December 2010 an exceptional access EFF arrangement for SDR 19.466 billion (2,321.8 percent of quota) in support of Ireland’s home-grown program and as part of a broader financing package of Ireland and its European partners. The program focused on addressing the Irish banking crisis to break the adverse feedback loop between banks, the sovereign, and the real sector. It aimed to restore the banking system to health, including by establishing a smaller banking sector with high capital buffers and more stable funding sources; and to secure fiscal sustainability while limiting the near-term demand drag from fiscal consolidation. Large external financing was a key element of the crisis response. Program implementation was very strong. The program succeeded in stabilizing the banking sector and reducing its size, and fiscal developments were also broadly as anticipated. Domestic demand was, however, weaker than programmed and unemployment remained high, amid a very challenging external environment. Program success, including regaining market access at low interest rates, benefitted also from actions at the wider euro area level. The Ex Post Evaluation draws several lessons from Ireland’s experience under the EFF: ? The main lessons emerge from what worked well: Strong country ownership, setting (and meeting) realistic and tailored targets were key for success, combined with effective communication and pro-active engagement. Addressing a banking crisis requires strong and credible actions upfront. ? Some areas offer lessons for future program design: While the main pillars of the financial sector program were sound, more proactive and stronger supervisory interventions and other supportive steps could have strengthened banks’ balance sheets and bank profitability and helped resolve problem loans; bank recapitalization should be limited to those with viable medium-term business strategies; unsecured and non-guaranteed creditors of failed banks should be bailed in, provided a strategy to ring fence potential systemic risks can be put in place; macro-financial linkages require careful attention and timely steps to limit sovereignbanking sector feedback loops; fiscal policy has to be mindful of debt sustainability but also of domestic demand conditions, and it needs a clear anchor. ? There are also lessons related to Fund policies: Ireland’s EFF underscores the importance of addressing shortcomings of the systemic exemption clause in Criterion 2 of the exceptional access criteria; and it suggests the need to explore ways to secure stronger upfront commitments from monetary union authorities, when those are critical for program success.

Non-Performing Loans and Resolving Private Sector Insolvency

Download Non-Performing Loans and Resolving Private Sector Insolvency PDF Online Free

Author :
Publisher : Palgrave Macmillan
ISBN 13 : 9783319843728
Total Pages : 0 pages
Book Rating : 4.8/5 (437 download)

DOWNLOAD NOW!


Book Synopsis Non-Performing Loans and Resolving Private Sector Insolvency by : Platon Monokroussos

Download or read book Non-Performing Loans and Resolving Private Sector Insolvency written by Platon Monokroussos and published by Palgrave Macmillan. This book was released on 2018-08-12 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the issue of private sector over-indebtedness following the recent financial crisis. It addresses the various challenges for policymakers, investors and economic agents affected by applied remedial policies as the private non-financial sector in Europe continues to face increased challenges in servicing its debt, with the problem mainly concentrated in several countries in the EU periphery and Eastern Europe. Chapters from expert contributors address reduced investment as firms concentrate on deleveraging and repairing their balance sheets, curtailed consumer spending, depressed collateral values and weak credit creation. They examine effective policies to facilitate private sector debt restructuring which may involve significant upfront costs in terms of time to implement and committed budgetary resources, as well as necessary reforms required to improve the broader institutional framework and judicial capacity. The book also explores the issue of over indebtedness in the household sector, contributing to the literature in establishing best practice principles for household debt.

Financial Crises

Download Financial Crises PDF Online Free

Author :
Publisher : International Monetary Fund
ISBN 13 : 1484355261
Total Pages : 754 pages
Book Rating : 4.4/5 (843 download)

DOWNLOAD NOW!


Book Synopsis Financial Crises by : Mr.Stijn Claessens

Download or read book Financial Crises written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2014-02-19 with total page 754 pages. Available in PDF, EPUB and Kindle. Book excerpt: The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries, are discussed.

External Debt Statistics

Download External Debt Statistics PDF Online Free

Author :
Publisher : International Monetary Fund
ISBN 13 : 1589060601
Total Pages : 327 pages
Book Rating : 4.5/5 (89 download)

DOWNLOAD NOW!


Book Synopsis External Debt Statistics by : International Monetary Fund

Download or read book External Debt Statistics written by International Monetary Fund and published by International Monetary Fund. This book was released on 2003-06-25 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Guide provides clear, up-to-date guidance on the concepts, definitions, and classifications of the gross external debt of the public and private sectors, and on the sources, compilation techniques, and analytical uses of these data. The Guide supersedes the previous international guidance on external debt statistics available in External Debt: Definition, Statistical Coverage, and Methodology (known as the Gray Book), 1988. The Guides conceptual framework derives from the System of National Accounts 1993 and the fifth edition of the IMFs Balance of Payments Manual(1993). Preparation of the Guide was undertaken by an Inter-Agency Task Force on Finance Statistics, chaired by the IMF and involving representatives from the BIS, the Commonwealth Secretariat, the European Central Bank, Eurostat, the OECD, the Paris Club Secretariat, UNCTAD, and the World Bank.

Creating Value Through Corporate Restructuring

Download Creating Value Through Corporate Restructuring PDF Online Free

Author :
Publisher : John Wiley & Sons
ISBN 13 : 0470503521
Total Pages : 852 pages
Book Rating : 4.4/5 (75 download)

DOWNLOAD NOW!


Book Synopsis Creating Value Through Corporate Restructuring by : Stuart C. Gilson

Download or read book Creating Value Through Corporate Restructuring written by Stuart C. Gilson and published by John Wiley & Sons. This book was released on 2010-04-05 with total page 852 pages. Available in PDF, EPUB and Kindle. Book excerpt: An updated look at how corporate restructuring really works Stuart Gilson is one of the leading corporate restructuring experts in the United States, teaching thousands of students and consulting with numerous companies. Now, in the second edition of this bestselling book, Gilson returns to present new insight into corporate restructuring. Through real-world case studies that involve some of the most prominent restructurings of the last ten years, and highlighting the increased role of hedge funds in distressed investing, you'll develop a better sense of the restructuring process and how it can truly create value. In addition to "classic" buyout and structuring case studies, this second edition includes coverage of Delphi, General Motors, the Finova Group and Warren Buffett, Kmart and Sears, Adelphia Communications, Seagate Technology, Dupont-Conoco, and even the Eurotunnel debt restructuring. Covers corporate bankruptcy reorganization, debt workouts, "vulture" investing, equity spin-offs, asset divestitures, and much more Addresses the effect of employee layoffs and corporate downsizing Examines how companies allocate value and when a corporation should "pull the trigger" From hedge funds to financial fraud to subprime busts, this second edition offers a rare look at some of the most innovative and controversial restructurings ever.

A Strategy for Resolving Europe's Problem Loans

Download A Strategy for Resolving Europe's Problem Loans PDF Online Free

Author :
Publisher : International Monetary Fund
ISBN 13 : 1513511653
Total Pages : 79 pages
Book Rating : 4.5/5 (135 download)

DOWNLOAD NOW!


Book Synopsis A Strategy for Resolving Europe's Problem Loans by : Mr.Shekhar Aiyar

Download or read book A Strategy for Resolving Europe's Problem Loans written by Mr.Shekhar Aiyar and published by International Monetary Fund. This book was released on 2015-09-24 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: Europe’s banking system is weighed down by high levels of non-performing loans (NPLs), which are holding down credit growth and economic activity. This discussion note uses a new survey of European country authorities and banks to examine the structural obstacles that discourage banks from addressing their problem loans. A three pillared strategy is advocated to remedy the situation, comprising: (i) tightened supervisory policies, (ii) insolvency reforms, and (iii) the development of distressed debt markets.

Dealing with Private Debt Distress in the Wake of the European Financial Crisis A Review of the Economics and Legal Toolbox

Download Dealing with Private Debt Distress in the Wake of the European Financial Crisis A Review of the Economics and Legal Toolbox PDF Online Free

Author :
Publisher : International Monetary Fund
ISBN 13 : 1475546238
Total Pages : 21 pages
Book Rating : 4.4/5 (755 download)

DOWNLOAD NOW!


Book Synopsis Dealing with Private Debt Distress in the Wake of the European Financial Crisis A Review of the Economics and Legal Toolbox by : Ms.Yan Liu

Download or read book Dealing with Private Debt Distress in the Wake of the European Financial Crisis A Review of the Economics and Legal Toolbox written by Ms.Yan Liu and published by International Monetary Fund. This book was released on 2013-02-20 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: The private non-financial sector in Europe is facing increased challenges in meeting its debt servicing obligation. In response, governments are revisiting legal tools and—in some cases—institutional arrangements to deal with over-indebtedness. For households, where the problem in some countries is large but no established best practice exists, reforms have generally sought to allow debtors a fresh start while minimizing moral hazard and preserving bank solvency and credit discipline. For the corporate sector, efforts have focused on facilitating debt restruturing (including through out of court mechanisms). Direct government intervention has been rare.

Guidelines for Public Debt Management -- Amended

Download Guidelines for Public Debt Management -- Amended PDF Online Free

Author :
Publisher : International Monetary Fund
ISBN 13 : 149832892X
Total Pages : 39 pages
Book Rating : 4.4/5 (983 download)

DOWNLOAD NOW!


Book Synopsis Guidelines for Public Debt Management -- Amended by : International Monetary Fund

Download or read book Guidelines for Public Debt Management -- Amended written by International Monetary Fund and published by International Monetary Fund. This book was released on 2003-09-12 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL