Corporate Debt Restructuring in Emerging Markets - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Corporate Debt Restructuring in Emerging Markets write by Richard Marney. This book was released on 2021-09-02. Corporate Debt Restructuring in Emerging Markets available in PDF, EPUB and Kindle. Corporate debt restructurings in the emerging markets have always presented special challenges. Today, as the global economy emerges from the COVID-19 pandemic and businesses look to pick up the pieces, this is even more true. For many, the financial hangover of the lockdowns and market disruptions linger and threaten their independence, even their survival. This peril is more acute in the emerging and frontier markets. Weaker economic fundamentals and institutional resiliency often intensify the challenge to return to pre-COVID-19 operating levels and financial sustainability. In this context, borrowers invariably must address the imbalance of substantial existing debt with the “new reality” of their business operations and revenues. This book, using case studies, presents a full, detailed narrative of a fictitious troubled bank in an emerging market, with characters, dialogues, and negotiations. It also includes a series of discussion questions with suggested answers, to draw out key issues from the case. In doing so, this initial narrative offers a substantive analysis of the five main phases and principles of a restructuring: (1) pre-restructuring, (2) the decision to restructure, (3) the case set-up, (4) structuring and negotiation, and lastly (5) implementation. In each chapter, the book outlines the main elements of the phases and shows how the elements are applied in practice. The book also presents separate chapters on exogenous shocks (with a focus on the COVID-19 pandemic as an example of such shocks), macroeconomics, and legal issues present in cross-border restructurings. It will be of interest to the international professional financial and legal community, primarily junior-to mid-level financiers, business people, and lawyers.
A Survey of Experiences with Emerging Market Sovereign Debt Restructurings
A Survey of Experiences with Emerging Market Sovereign Debt Restructurings - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook A Survey of Experiences with Emerging Market Sovereign Debt Restructurings write by International Monetary Fund. Monetary and Capital Markets Department. This book was released on 2012-05-06. A Survey of Experiences with Emerging Market Sovereign Debt Restructurings available in PDF, EPUB and Kindle. This paper takes stock of past episodes of debt restructuring and reviews the relevant literature. Based on cross-country experience from the late 1990s through 2010 of emerging markets it offers some stylized facts.
Emerging Markets Debt Restructuring
Emerging Markets Debt Restructuring - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Emerging Markets Debt Restructuring write by Richard Marney. This book was released on 2024-09-20. Emerging Markets Debt Restructuring available in PDF, EPUB and Kindle. Corporate debt in emerging markets (EMs) has reached historical levels in the post-Covid-19 world. This challenges international lenders (e.g., commercial banks, development finance institutions, and impact investors) and EM economies in their pursuit of economic development. This book builds on the authors’ first volume by focusing on the role of institutions in the economy, credit markets, and ultimately debt restructuring. The authors identify, contextualize, and evaluate the major challenges confronting restructuring professionals in EMs, offering “ten observations” on the major differences for the practitioner in the restructuring environment of EMs versus that of advanced economies. The authors present four detailed EM case studies (following these with counterfactuals) reflecting these ten observations. The authors also explore the main elements of an effective EM insolvency framework as relevant to the restructurer’s choice whether to pursue a formal versus an informal solution. Written for restructuring professionals by restructuring professionals, this book explores the factors which drive success—or failure—in EM debt restructuring.
Tracking Global Demand for Emerging Market Sovereign Debt
Tracking Global Demand for Emerging Market Sovereign Debt - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Tracking Global Demand for Emerging Market Sovereign Debt write by Mr.Serkan Arslanalp. This book was released on 2014-03-05. Tracking Global Demand for Emerging Market Sovereign Debt available in PDF, EPUB and Kindle. This paper proposes an approach to track US$1 trillion of emerging market government debt held by foreign investors in local and hard currency, based on a similar approach that was used for advanced economies (Arslanalp and Tsuda, 2012). The estimates are constructed on a quarterly basis from 2004 to mid-2013 and are available along with the paper in an online dataset. We estimate that about half a trillion dollars of foreign flows went into emerging market government debt during 2010–12, mostly coming from foreign asset managers. Foreign central bank holdings have risen as well, but remain concentrated in a few countries: Brazil, China, Indonesia, Poland, Malaysia, Mexico, and South Africa. We also find that foreign investor flows to emerging markets were less differentiated during 2010–12 against the background of near-zero interest rates in advanced economies. The paper extends some of the indicators proposed in our earlier paper to show how the investor base data can be used to assess countries’ sensitivity to external funding shocks and to track foreign investors’ exposures to different markets within a global benchmark portfolio.
Bailouts Or Bail-Ins?
Bailouts Or Bail-Ins? - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Bailouts Or Bail-Ins? write by Nouriel Roubini. This book was released on 2004-04-30. Bailouts Or Bail-Ins? available in PDF, EPUB and Kindle. The study calls for a two-track strategy: first, deep multilateral liberalization involving phased but complete elimination of industrial-county protection and deep reduction of protection by at least the middle-income developing countries, albeit on a more gradual schedule; and second, immediate free entry for imports from high risk low-income countries (heavily indebted poor countries, least developed countries, and sub-Saharan Africa), coupled with a 10-year tax holiday for direct investment in these countries.
