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Tuesday, May 5, 2020 | History

2 edition of Burden-sharing among official and private creditors found in the catalog.

Burden-sharing among official and private creditors

Asli Demirgüç-Kunt

Burden-sharing among official and private creditors

by Asli Demirgüç-Kunt

  • 48 Want to read
  • 13 Currently reading

Published by International Economics Dept., World Bank in Washington, DC (1818 H St., N.W., Washington 20433) .
Written in English

    Subjects:
  • Debtor and creditor.,
  • Debts, External.

  • Edition Notes

    StatementAsli Demirgüç-Kunt and Eduardo Fernández-Arias.
    SeriesPolicy research working papers ;, WPS 943
    ContributionsFernández-Arias, Eduardo.
    Classifications
    LC ClassificationsHG3881.5.W57 P63 no. 943
    The Physical Object
    Pagination26, [5] p. :
    Number of Pages26
    ID Numbers
    Open LibraryOL1472190M
    LC Control Number93135275

    Designing mechanisms for appropriate burdensharing among private sector investor/creditors is inherently hard because it runs into some very sticky and fundamental dilemmas. The basic principle from which all borrowing and lending must proceed is that people who use other people's money have a firm obligation to pay it back.   An Overview of the Burden-Sharing Experience of Recent Years. Once – as Senator Richard Lugar suggested in the context of the Balkans crises – NATO “had to” go out of area in order to avoid “going out of business,” the realities of the post September world dictated that its largest undertaking in this respect take place in Afghanistan.

    action. The private sector also argues that burden-sharing is not symmetrical. Although private-sector investors are now drawn into debt restructuring involving IMF lending, the reverse is not always true. Official creditors such as national governments that comprise the Paris Club have escaped the effects of.   Burden-Sharing Doesn’t Need to Be Burdensome. Both in campaigning and in office, Donald Trump has elevated the subject of burden-sharing among American allies, partnerships and institutions as a question of U.S. foreign policy. The Global Fund is a public-private partnership financing projects to combat HIV, TB and malaria—to great Author: Mark P. Lagon, Will Moreland.

    This book studies the international monetary and financial system from a legal perspective. The new edition has been renamed to reflect the book's breadth of coverage, which includes an in-depth study of central banking, a fresh look at supervision, regulation and crisis management after the global financial crisis and updated material on the law of the European Central Bank (and its responses Author: Rosa Lastra. Debt Reduction, Adjustment Lending, and Burden Sharing Ishac Diwan, Dani Rodrik. NBER Working Paper No. Issued in March NBER Program(s):International Trade and Investment,, International Finance and Macroeconomics We argue that the disincentive effect of a debt overhang is generally small and consequently that debt reduction does not lead to important efficiency gains on Cited by:


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Burden-sharing among official and private creditors by Asli Demirgüç-Kunt Download PDF EPUB FB2

Burden-sharing among official and private creditors. October sound measure of burden sharing among creditors needs to look at the capital only between private and official creditors. Burden-sharing among Official and Private Creditors Asih Demirgui-Kunt and Eduardo Fernandez-Arias Official creditors -especially multilaterals -have absorbed more of the burden of the debt crisis than private creditors have.

Official creditors are not necessarily weaker or less senior, but for the sake of nonfinancial objectives, they may be. Downloadable. The authors analyze how the burden of the debt crisis has been shared by various classes of creditors.

Given the rising share of official debt in the total debt of developing countries, official creditors have a growing need to develop a burden-sharing indicator.

This paper represents the very first step in this direction. To assess burden-sharing, the unobservable implied prices. Get this from a library.

A note on burden sharing among creditors. [Michael P Dooley; Richard D Haas; Steven A Symansky; International Monetary Fund.

Research Department.] -- This paper presents a framework for evaluating the relative contributions of different creditors in cases where only partial payments can be made by the debtor country. A methodology is developed to. Burden-sharing among official and private creditors. The authors analyze how the burden of the debt crisis has been shared by various classes of creditors.

Given the rising share of official debt in the total debt of developing countries, official creditors have a growing need to develop a burden-sharing indicator. This paper represents. “Burden sharing” in sovereign debt reduction. Author links open overlay Burden sharing among official and private creditors, mimeo (World Bank, Washington, DC).

Burden-sharing among official and private creditors book, A. and H. Huizinga,Official credits to developing countries: Implicit transfers to the banks, Journal of Money, Credit and Bank Cited by: 3.

References to ‘burden-sharing’, ‘responsibility-sharing’, or what the Lisbon Treaty now prefers to call ‘solidarity between the member states’ are frequently heard in the context of EU policy making. Most recently, such references have been prominent in the fields of financial bailouts in the context of the EMU, EU climate change policy, and member states' defence collaboration.

This paper presents a framework for evaluating the relative contributions of different creditors in cases where only partial payments can be made by the debtor country.

A methodology is developed to calculate partial payments – or, alternatively put, to determine residual financing. By focusing on the relative seniority of creditors and expectations of the debtor's ability to repay Cited by: 9. Demirguc-Kunt, Asli & Fernandez-Arias, Eduardo, "Burden-sharing among official and private creditors," Policy Research Working Paper SeriesThe World Bank.

Krugman, Paul, "Financing vs. forgiving a debt overhang," Journal of Development Economics, Elsevier, vol. 29(3), pagesNovember. Demirgue-Kunt, A. and Fernandez-Arias, E. () ‘Burden-sharing among official and private creditors’, WPS no. (Washington, DC: World Bank).

Google Scholar. Cohen D. () The Sustainability of African Debt. In: Cohen D. (eds) Contemporary Economic Issues. International Economic Association Series. Buy this book on publisher's Cited by: Sovereign Debtors, Private Creditors, and the IMF Shean Hagan Follow this and additional works at: This Preface is brought to you for free and open access by the Law Journals at SMU Scholar.

It has been accepted for inclusion in Law and Business Review of the Americas by an authorized administrator of SMU Scholar. Burden-sharing is an integral part of comprehensive solutions.

Approaches to burden-sharing could be linked to political processes, development and environmental pro-grammes, and peace-keeping and peace-building activities, including reconciliation, rehabilitation, reconstruction and reintegration initiatives. 15 See Grünewald (), pp.

52distinguishing three levels of burdensharing: (i)among private creditors; (ii) between private creditors and official sources; and (iii) among Member States. Gardella (b) distinguishes a vertical and a horizontal dimension of burden-sharing.

16Cited by: 2. Burden-sharing among official and private creditors Policy Research Working Paper Series, The World Bank View citations (9) Creditor country regulations and commercial bank lending to developing countries Policy Research Working Paper Series, The World Bank View citations (1) Developing country capital structures and emerging stock markets.

Book. Series: World Economic and Financial Surveys The principle of equitable burden sharing among participating creditors is formally reflected in the access clause of the Agreed Minutes. Differences between official and private creditors make it somewhat more difficult than in the case of nonparticipating official creditors to define.

Get this from a library. Burden sharing at the IMF. [Aziz Ali Mohammed; United Nations Conference on Trade and Development.; UNCTAD Project of Technical Support to the Intergovernmental Group of Twenty-Four on International Monetary Affairs.; Harvard University.

Center for International Development.] -- Reviews aspects of the financial governance of the IMF, focusing on how the cost of. Official Creditor Seniority and Burden-Sharing in the Former Soviet Bloc (Brookings Papers on Economic Activity,No. 1) Abstract THE COLLAPSE of the Soviet empire has created an.

Book. Series: World Economic and Financial Surveys Author(s): In this process, coordination between official and other creditors, notably private creditors, would be particularly important.

and burden sharing among creditors. Recent Debt Restructurings with Non-Paris Club Creditors. We also analyze the burden-sharing issue in the context of arrangements of the Brady type, in which debt is repurchased at a price (Chapter 5) and creditors are offered a menu of options (Chapter 6).

Burden-sharing among official and private creditors Policy Research Working Paper Series, The World Bank View citations (9) Recent experience with commercial bank debt reduction Policy Research Working Paper Series, The World Bank View citations (14) A dynamic bargaining model of sovereign debt.

Banking, burden-sharing and State aid - The Commission's Communication on aid to the banking sector is valid With the current State aid issues regarding recapitalisation of banks in Italy and the on-going post-Financial crisis rescue of banks across the EU (including Ireland), it was timely that the Court of Justice (COJ) gave a preliminary ruling on 19 July following a reference from a.

This led eventually to a conflict of interests. Such conflict of interests may entail skewed analysis, insufficient debt relief and unfair burden-sharing among creditors for a given level of debt relief.

Need to establish an independent and neutral body which provides all the assessments and decisions needed for the restructuring workout over.The important coordination problem is not among banks or bondholders but between private creditors, official creditors, and holders of domestic debt.

(10) After a sovereign default there is a high probability that the debt will be restructured again.