Now available directly from: IIE11 Dupont Circle, NWWashington, DC 20036Tel: (202) 328-9000This book traces the origins of international debt and recent trends that burden it, including the effect of oil price shocks, high interest rates, and world recession. It examines the extent of the financial system's vulnerability, and the adequacy of bank regulation and of central bank coverage for emergency lending to international banks.Recent international rescue measures mounted for the major developing countries are discussed, and the prospects for orderly servicing of the debt during the next three years are reviewed under alternative assumptions about world economic conditions to determine whether the problem is one of short-term illiquidity or longer-term insolvency. The book also notes the implications of reduced bank lending for growth in developing countries and, by induced effects on trade, in industrial countries. It considers mainstream policy measures, especially increasing the resources of the International Monetary Fund and World Bank, as well as more radical proposals, such as mandatory stretch-outs and write-downs of bank loans.
- ISBN10 0262031000
- ISBN13 9780262031004
- Publish Date 3 October 1984
- Publish Status Out of Print
- Out of Print 7 October 2008
- Publish Country US
- Publisher MIT Press Ltd
- Imprint MIT Press
- Format Hardcover
- Pages 336
- Language English