External Debt Management , Classification of External Debt Crises. and Indicators
Two Main External Debt Issues . 1. Economic Crises in Low-income developing countriesIMF and World Bank as a provider of concessionary loans (PRGF, IDA)Main issue: macroeconomic problems together with the quality of governance and institutionsMillennium Development Goals, HIPCs, Debt relief2. Economic Crises in Emerging Market Economies (East Asia of 1997-99, Russia in 1998, Brazil in 1999, Argentina in 2001)IMF and World Bank provide non-concessionary loans Regional initiatives in As29
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