Mexicos External Debt And The Return To Voluntary Capital Market Financing
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| Author | : Mr.Mohamed A. El-Erian |
| Publisher | : International Monetary Fund |
| Total Pages | : 60 |
| Release | : 1991-08-01 |
| Genre | : Business & Economics |
| ISBN | : 1451954492 |
The paper analyzes the evolution of Mexico’s approach to commercial bank debt restructuring since the outbreak of the 1982 debt servicing problems. It discusses the key elements of the approach, their implementation, and their interaction with developments in the “international debt strategy.” It focusses, in particular, on factors contributing to the emergence of comprehensive market-based debt and debt service reduction operations. Together with the sustained implementation of appropriate economic policies, these operations have contributed to Mexico’s return to voluntary international capital market financing. The paper discusses the major aspects of this market re-entry process.
| Author | : Mohamed A. El-Erian |
| Publisher | : |
| Total Pages | : 64 |
| Release | : 1991 |
| Genre | : Capital market |
| ISBN | : |
| Author | : Mohamed A. El-Erian |
| Publisher | : |
| Total Pages | : 60 |
| Release | : 2006 |
| Genre | : |
| ISBN | : |
The paper analyzes the evolution of Mexico`s approach to commercial bank debt restructuring since the outbreak of the 1982 debt servicing problems. It discusses the key elements of the approach, their implementation, and their interaction with developments in the quot;international debt strategy.quot; It focusses, in particular, on factors contributing to the emergence of comprehensive market-based debt and debt service reduction operations. Together with the sustained implementation of appropriate economic policies, these operations have contributed to Mexico`s return to voluntary international capital market financing. The paper discusses the major aspects of this market re-entry process.
| Author | : M. Ayhan Kose |
| Publisher | : World Bank Publications |
| Total Pages | : 403 |
| Release | : 2021-03-03 |
| Genre | : Business & Economics |
| ISBN | : 1464815453 |
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.
| Author | : Ms.Carmen Reinhart |
| Publisher | : International Monetary Fund |
| Total Pages | : 47 |
| Release | : 2015-01-21 |
| Genre | : Business & Economics |
| ISBN | : 1498338380 |
High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 124 |
| Release | : 1999-09-24 |
| Genre | : Business & Economics |
| ISBN | : 9781557758606 |
A selective index of major research papers prepared by IMF staff in 1991-98.
| Author | : Stephan Haggard |
| Publisher | : World Bank Publications |
| Total Pages | : 542 |
| Release | : 1994 |
| Genre | : Political Science |
| ISBN | : 0195209877 |
| Author | : Mr.R. Gelos |
| Publisher | : International Monetary Fund |
| Total Pages | : 42 |
| Release | : 1999-03-01 |
| Genre | : Business & Economics |
| ISBN | : 1451844247 |
This paper examines the impact of financial liberalization on fixed investment in Mexico, using establishment-level data from the manufacturing sector. It analyzes changes in cash-flow sensitivities and uses an innovative approach to explore the role of real estate as collateral and deal with a potential censoring problem. The results suggest that financial constraints were eased for small firms but not for large ones. However, banks’ reliance on collateral in their lending operations increased the importance of real estate. The results provide microeconomic evidence consistent with the role attributed to “financial accelerator” mechanisms during lending booms and during recessions that stem from financial crises.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 39 |
| Release | : 2003-09-12 |
| Genre | : Business & Economics |
| ISBN | : 149832892X |
| Author | : Pedro Aspe Armella |
| Publisher | : MIT Press |
| Total Pages | : 306 |
| Release | : 1993 |
| Genre | : Business & Economics |
| ISBN | : 9780262011358 |
The book examines how Mexico has tried to stabilize its economy with measures such as economic deregulation, fiscal reform, privatization of state-owned enterprises, and realistic budget management.
