Fiscal Monitor - Addressing Fiscal Challenges to Reduce Economic
... IMF arrangement, the medium-term projections are those under the arrangement. In cases in which the IMF staff has insufficient information to assess the authorities’ budget intentions and prospects for policy implementation, ...
... IMF arrangement, the medium-term projections are those under the arrangement. In cases in which the IMF staff has insufficient information to assess the authorities’ budget intentions and prospects for policy implementation, ...
Italy - Marcello Minenna
... No growth undermines debt sustainability: the Sentix Index signals stress The Sentix Index estimates the one-year probability of Italy leaving the monetary union based on the assessment of investors. The index spiked to 19% in November 2016 before recently moderating to 15%. This compared with the 2 ...
... No growth undermines debt sustainability: the Sentix Index signals stress The Sentix Index estimates the one-year probability of Italy leaving the monetary union based on the assessment of investors. The index spiked to 19% in November 2016 before recently moderating to 15%. This compared with the 2 ...
Discussion paper on the debt write-down tool – bail-in
... The bail-in tool The debt write down tool is a tool by which Resolution authorities could be given a statutory power, exercisable when an institution meets the trigger conditions for entry into resolution, to write off all equity, and either write off subordinated liabilities or convert it into an ...
... The bail-in tool The debt write down tool is a tool by which Resolution authorities could be given a statutory power, exercisable when an institution meets the trigger conditions for entry into resolution, to write off all equity, and either write off subordinated liabilities or convert it into an ...
Credit Availability, Start-up Financing, and Survival: Evidence from
... We then investigate the real effects of credit availability for start-ups. We focus on one specific real effect, namely firm survival (or its flip-side, bankruptcy), because survival is an important concern for entrepreneurs and investors in very early stage firms (Damodaran, 2009).1 We find that th ...
... We then investigate the real effects of credit availability for start-ups. We focus on one specific real effect, namely firm survival (or its flip-side, bankruptcy), because survival is an important concern for entrepreneurs and investors in very early stage firms (Damodaran, 2009).1 We find that th ...
Chapter 11
... a return of 7 percent. It was financed by debt costing 6 percent. In August, Mr. Rambo came up with an “entire bug colony destroying” device that had a return of 12 percent. The Chief Financial Officer, Mr. Roach, told him it was impractical because it would require the issuance of common stock at a ...
... a return of 7 percent. It was financed by debt costing 6 percent. In August, Mr. Rambo came up with an “entire bug colony destroying” device that had a return of 12 percent. The Chief Financial Officer, Mr. Roach, told him it was impractical because it would require the issuance of common stock at a ...
Government, Household and Corporate Debt
... Incorporating private (household and corporate) and public (government) debt is important in terms of policy insight, especially when analyzing debt dynamics around episodes of financial stress and crisis. Prior to the 2007 financial crisis, private sector debt rose fast in advanced countries, while ...
... Incorporating private (household and corporate) and public (government) debt is important in terms of policy insight, especially when analyzing debt dynamics around episodes of financial stress and crisis. Prior to the 2007 financial crisis, private sector debt rose fast in advanced countries, while ...
PLI Text Article
... provide exceptions for a change in a term that is agreed to by the parties but is subject to reasonable closing conditions or that occurs as a result of bankruptcy proceedings.28 In these cases, a modification occurs on the date the change in the term becomes effective.29 Thus, if the conditions do ...
... provide exceptions for a change in a term that is agreed to by the parties but is subject to reasonable closing conditions or that occurs as a result of bankruptcy proceedings.28 In these cases, a modification occurs on the date the change in the term becomes effective.29 Thus, if the conditions do ...
Accounts and Notes Receivable
... A receivable is an amount due from another party. Receivables are usually one of the largest current assets on a company’s books. The control and analysis of this asset is very important, because receivables are usually the biggest source of a company’s cash flow. What happens when your cash flow at ...
... A receivable is an amount due from another party. Receivables are usually one of the largest current assets on a company’s books. The control and analysis of this asset is very important, because receivables are usually the biggest source of a company’s cash flow. What happens when your cash flow at ...
Working Paper 17-6: Does Greece Need More Official Debt Relief? If
... Since mid-2015, the International Monetary Fund (IMF), EU institutions, and European creditor countries have been arguing whether Greece requires additional official debt relief—and if so, how much.1 One-and-a-half years later, their positions seem as far apart as ever. In a report released on Febru ...
... Since mid-2015, the International Monetary Fund (IMF), EU institutions, and European creditor countries have been arguing whether Greece requires additional official debt relief—and if so, how much.1 One-and-a-half years later, their positions seem as far apart as ever. In a report released on Febru ...
I. The Basic Checking Relationship and the Bank`s Right to Pay
... that would have to deal w/holding the bag if nobody reimbursed them ...
... that would have to deal w/holding the bag if nobody reimbursed them ...
A Financial Optimization Approach to Quantitative
... strategies in a great number of simulated futures. This approach has a number of drawbacks, which might be handled by using a financial optimization approach based on Stochastic Programming. The objective of this master’s thesis is thus to apply financial optimization on the Swedish government’s str ...
... strategies in a great number of simulated futures. This approach has a number of drawbacks, which might be handled by using a financial optimization approach based on Stochastic Programming. The objective of this master’s thesis is thus to apply financial optimization on the Swedish government’s str ...
What Drives Long-term Capital Flows? A Theoretical and Empirical
... is that they are driven by scarcity, and act as a substitute to domestic savings. Countries borrow to accumulate capital, and by using international capital markets, can increase investment with no cost in current consumption: foreign financing replaces domestic savings. An alternative view is that ...
... is that they are driven by scarcity, and act as a substitute to domestic savings. Countries borrow to accumulate capital, and by using international capital markets, can increase investment with no cost in current consumption: foreign financing replaces domestic savings. An alternative view is that ...
When managing the debt, Governments deal with the
... guarantee the medium and long term fiscal stability. However, it is not obvious whether a 3% primary surplus will be achieved by 2005, since the fiscal targets for 2003 and 2004 agreed in a three-year program with the IMF were revised and weakened. In second place, a debt strategy, more specifically ...
... guarantee the medium and long term fiscal stability. However, it is not obvious whether a 3% primary surplus will be achieved by 2005, since the fiscal targets for 2003 and 2004 agreed in a three-year program with the IMF were revised and weakened. In second place, a debt strategy, more specifically ...
documentos de trabajo
... eventually lead to a generalized bank run. Second, the strong growth of non-performing debt, which started to be written off in recent years. Furthermore, some of the debtors voluntarily cancelled their loans, taking advantage of the possibilities provided by the government in 2001 to firms with del ...
... eventually lead to a generalized bank run. Second, the strong growth of non-performing debt, which started to be written off in recent years. Furthermore, some of the debtors voluntarily cancelled their loans, taking advantage of the possibilities provided by the government in 2001 to firms with del ...
INTER PIPELINE LTD. $3,000,000,000 Common Shares Preferred
... holders thereof will become entitled to receive Common Shares or such other securities, and any other terms specific to the Subscription Receipts being offered. Where required by statute, regulation or policy, and where Securities are offered in currencies other than Canadian dollars, appropriate di ...
... holders thereof will become entitled to receive Common Shares or such other securities, and any other terms specific to the Subscription Receipts being offered. Where required by statute, regulation or policy, and where Securities are offered in currencies other than Canadian dollars, appropriate di ...
DOC - Europa EU
... definition of whether a transaction favours a creditor and whether it should therefore be invalidated. In some countries, it depends on whether or not the creditor has accepted the collateral in “good faith”; (i.e. he was unaware that the company was about to go bankrupt). In other countries there a ...
... definition of whether a transaction favours a creditor and whether it should therefore be invalidated. In some countries, it depends on whether or not the creditor has accepted the collateral in “good faith”; (i.e. he was unaware that the company was about to go bankrupt). In other countries there a ...
A Surplus of Ambition: Can Europe Rely on Large Primary
... persistent surpluses. So are countries where the debt ratio is high, again heightening the pressure for adjustment. In terms of institutional correlates, we find that surplus episodes are more likely when electoral institutions deliver a majority government that controls all houses of parliament or ...
... persistent surpluses. So are countries where the debt ratio is high, again heightening the pressure for adjustment. In terms of institutional correlates, we find that surplus episodes are more likely when electoral institutions deliver a majority government that controls all houses of parliament or ...
LBO General Discussion
... • The remainder of the required 18 to 20 percent all-in-return consists of warrants to buy common stock, which the investor values based on the outlook of the company, or incremental interest paid on a "pay-in-kind" or PIK basis. • The fee for raising the money runs between two and three percent of ...
... • The remainder of the required 18 to 20 percent all-in-return consists of warrants to buy common stock, which the investor values based on the outlook of the company, or incremental interest paid on a "pay-in-kind" or PIK basis. • The fee for raising the money runs between two and three percent of ...
household debt and unemployment
... Almost all household debt is created by consumer loans made by financial institutions. So the lending decisions of these institutions influence aggregate household debt, and those lending decisions, in turn, are affected by financial regulation. This raises the main policy question that we address i ...
... Almost all household debt is created by consumer loans made by financial institutions. So the lending decisions of these institutions influence aggregate household debt, and those lending decisions, in turn, are affected by financial regulation. This raises the main policy question that we address i ...
household debt and unemployment
... Almost all household debt is created by consumer loans made by financial institutions. So the lending decisions of these institutions influence aggregate household debt, and those lending decisions, in turn, are affected by financial regulation. This raises the main policy question that we address i ...
... Almost all household debt is created by consumer loans made by financial institutions. So the lending decisions of these institutions influence aggregate household debt, and those lending decisions, in turn, are affected by financial regulation. This raises the main policy question that we address i ...
Debt Levels and Share Price - a Sensitivity Analysis on Vestas
... Companies constantly strive to maximise their share price, both through their investment choices and through their financing ones. This paper looks at the latter in an attempt to shed some light upon how the share price would be affected by changes in the capital structure of the firm. In their semi ...
... Companies constantly strive to maximise their share price, both through their investment choices and through their financing ones. This paper looks at the latter in an attempt to shed some light upon how the share price would be affected by changes in the capital structure of the firm. In their semi ...
report - Standard Chartered Bank
... China’s rate of credit growth over GDP growth, which we think is the best gauge of leverage risk, has declined for eight consecutive quarters – it stands at 5.4ppt, slightly above our ‘safe’ threshold of 5ppt and down from a peak of 8.8ppt at end2013. This is exceeded in Asia only by Hong Kong, at 7 ...
... China’s rate of credit growth over GDP growth, which we think is the best gauge of leverage risk, has declined for eight consecutive quarters – it stands at 5.4ppt, slightly above our ‘safe’ threshold of 5ppt and down from a peak of 8.8ppt at end2013. This is exceeded in Asia only by Hong Kong, at 7 ...
NBER WORKING PAPER SERIES INVESTMENT CYCLES AND SOVEREIGN DEBT OVERHANG Mark Aguiar
... open economy (SOE) where the government cannot commit to policy and seeks to insure a risk averse domestic constituency. The environment we consider includes two defining features of emerging markets, namely a lack of access to financial markets on the part of domestic agents and the inability of th ...
... open economy (SOE) where the government cannot commit to policy and seeks to insure a risk averse domestic constituency. The environment we consider includes two defining features of emerging markets, namely a lack of access to financial markets on the part of domestic agents and the inability of th ...
A Small Open Economy Model with Sovereign
... the model successfully captures the declines in output, consumption and investment that are actually associated with these episodes. Net exports and sovereign spreads are countercyclical because in the model the risk of default increases when the economy is either more indebted or transiting through ...
... the model successfully captures the declines in output, consumption and investment that are actually associated with these episodes. Net exports and sovereign spreads are countercyclical because in the model the risk of default increases when the economy is either more indebted or transiting through ...
Felonious, Erroneous, It`s All Odious: A Story of Debt Gone Wrong
... debtor becomes insolvent, there are bankruptcy regimes established to settle its debts with creditors through debt restructuring.35 In the absence of a successful reorganization, a corporation’s debt ends with a liquidation of assets and the dissolution of the company.36 Similar to a corporation, a ...
... debtor becomes insolvent, there are bankruptcy regimes established to settle its debts with creditors through debt restructuring.35 In the absence of a successful reorganization, a corporation’s debt ends with a liquidation of assets and the dissolution of the company.36 Similar to a corporation, a ...