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2005 (8)

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Book
An Analysis of The 2002 Uruguayan Banking Crisis
Authors: --- ---
Year: 2005 Publisher: Washington, D.C., The World Bank,

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Abstract

The authors review the series of events that led to the 2002 Uruguayan banking crisis, assess the current status of the Uruguayan banking sector, and analyze the policy responses undertaken by the Uruguayan authorities to counteract the crisis. The main conclusion from their analysis is that although the immediate trigger for the crisis was caused by contagion resulting from Argentina's financial crisis, the spread and magnification of the crisis that engulfed the Uruguayan economy was amplified by certain weaknesses of the Uruguayan economy in general, and the domestic banking sector in particular. The authors also believe that the policy responses adopted by the Uruguayan authorities were mostly adequate, allowing Uruguay to successfully counteract simultaneous banking and public debt crises. Most important, the Uruguayan authorities were able to overcome a severe crisis while preserving the necessary trust in banking contracts, achieving a high level of social stability and political cohesion, and maintaining a fluid dialogue with multilateral financial institutions and all affected parties. The cooperative and consensual approach taken by the authorities created the necessary conditions to overcome some of the important obstacles to the recovery of the domestic banking sector.


Book
An Analysis of The 2002 Uruguayan Banking Crisis
Authors: --- ---
Year: 2005 Publisher: Washington, D.C., The World Bank,

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Abstract

The authors review the series of events that led to the 2002 Uruguayan banking crisis, assess the current status of the Uruguayan banking sector, and analyze the policy responses undertaken by the Uruguayan authorities to counteract the crisis. The main conclusion from their analysis is that although the immediate trigger for the crisis was caused by contagion resulting from Argentina's financial crisis, the spread and magnification of the crisis that engulfed the Uruguayan economy was amplified by certain weaknesses of the Uruguayan economy in general, and the domestic banking sector in particular. The authors also believe that the policy responses adopted by the Uruguayan authorities were mostly adequate, allowing Uruguay to successfully counteract simultaneous banking and public debt crises. Most important, the Uruguayan authorities were able to overcome a severe crisis while preserving the necessary trust in banking contracts, achieving a high level of social stability and political cohesion, and maintaining a fluid dialogue with multilateral financial institutions and all affected parties. The cooperative and consensual approach taken by the authorities created the necessary conditions to overcome some of the important obstacles to the recovery of the domestic banking sector.


Book
Considerations in the Choice of the Appropriate Discount Rate for Evaluating Sovereign Debt Restructurings
Author:
ISBN: 1455286206 1452754373 1451975848 Year: 2005 Publisher: Washington, D.C. : International Monetary Fund,

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Assessments regarding the effectiveness of sovereign debt restructurings are often summarized by comparisons of the net present value of debt service before and after the restructuring. These calculations are inherently sensitive to the choice of discount rate. This paper explores issues that arise in selecting discount rates when evaluating sovereign debt restructurings. It suggests using a range of discount rates and centering the analysis around the internal rate of return to assess whether the debt restructuring has generated net present value savings or costs to the debtor.

Refactoring to patterns
Author:
ISBN: 0321213351 9780321213358 Year: 2005 Publisher: Boston, Mass.: Addison-Wesley,


Book
Rwanda : Enhanced Initiative for Heavily Indebted Poor Countries-Completion Point Document.
Authors: ---
ISBN: 1455223743 1452721149 1283563533 145188706X 9786613875983 Year: 2005 Publisher: Washington, D.C. : International Monetary Fund,

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This paper presents the Completion Point Document for consideration of Rwanda’s Enhanced Initiative for Heavily Indebted Poor Countries. The government has maintained the policy of protecting social sector budget allocations from cuts during the course of the fiscal year, and military spending has progressively been reduced, which has also enabled a reallocation of resources to priority areas. Moreover, since the 2002 budget cycle, expenditures have been classified in all ministries according to programs and sub-programs, expected outputs, activities, and inputs.


Book
Republic of Congo : Enhanced Heavily Indebted Poor Countries (HIPC) Initiative: Preliminary Document.
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ISBN: 1455265276 1452752524 1280891092 9786613732408 1451878494 Year: 2005 Publisher: Washington, D.C. : International Monetary Fund,

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This paper reviews the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative of the Republic of Congo. Emerging from a conflict situation, and starting from a low base, Congo has made significant progress in implementing financial and structural reforms, but large challenges remain. The overall improving political and security conditions allowed the authorities to make good progress toward restoring macroeconomic and financial stability. Debt relief under the enhanced HIPC Initiative would reduce Congo’s external debt by nearly one-half.


Book
Dominica : Third and Fourth Reviews Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility.
Authors: ---
ISBN: 1455285447 1452742421 1280882581 1451879245 9786613723895 Year: 2005 Publisher: Washington, D.C. : International Monetary Fund,

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The staff report for the Third and Fourth Reviews Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility on Dominica highlights economic developments and policies. Import growth has been robust on account of the economic recovery but the impact on the current account has been partially offset by increased tourism receipts. The efforts to reform the tax system and strengthen social security are necessary to place Dominica’s public finances over the long term on a firmer footing.

India's and China's recent experience with reform and growth
Authors: ---
ISBN: 155775456X 1475573790 1475559259 1280426802 9786610426805 0230505759 Year: 2005 Publisher: Basingstoke [England] ; New York : Palgrave Macmillan/International Monetary Fund,

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Can China and India continue to rank among the fastest expanding economies? This book highlights what has worked and what more needs to be done to ensure sustained rapid economic growth and poverty reduction. Addressing the two countries' recent experiences with growth and reform, this book provides important insight for other developing economies.

Keywords

Loans, Foreign --- Debts, External --- Debt relief --- Debt equity conversion --- Prêts étrangers --- Dettes extérieures --- Dettes --- Conversion en prises de participation --- -Debt relief --- -Debts, External --- -Loans, Foreign --- -336.7 --- (100-77) --- $?$96/10 --- AA / International- internationaal --- 338.340 --- 382.256 --- 382.254 --- Foreign loans --- International loans --- Loans, International --- Loans --- Conditionality (International relations) --- Foreign loan insurance --- Debts, Foreign --- Debts, International --- External debts --- Foreign debts --- International debts --- Debt --- International finance --- Investments, Foreign --- Debt renegotiation --- Debt rescheduling --- Debt restructuring --- Relief, Debt --- Renegotiation, Debt --- Rescheduling, Debt --- Restructuring, Debt --- Debtor and creditor --- Buybacks, Debt --- Conversion, Debt-equity --- Debt buybacks --- Debt-equity swaps --- Swaps (Finance) --- Algemene ontwikkeling in de Derde Wereld. --- Buitenlandse hulp (betalingsbalans). --- Internationale kredieten. --- Law and legislation --- Prêts étrangers --- Dettes extérieures --- Asia-Economic conditions. --- Development economics. --- International economics. --- Macroeconomics. --- Asian Economics. --- Development Economics. --- International Economics. --- Macroeconomics/Monetary Economics//Financial Economics. --- Economics --- Economic development --- Economic policy, Foreign --- Economic relations, Foreign --- Economics, International --- Foreign economic policy --- Foreign economic relations --- Interdependence of nations --- International economic policy --- International economics --- New international economic order --- Economic policy --- International relations --- Economic sanctions --- Asia—Economic conditions. --- Algemene ontwikkeling in de Derde Wereld --- Buitenlandse hulp (betalingsbalans) --- Internationale kredieten --- India --- China --- Economic policy. --- Economic conditions. --- Asia --- International economic relations. --- Macroeconomics and Monetary Economics. --- -Asia --- -India

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