Vulture Funds and the Threat to Debt Relief in Africa PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Vulture Funds and the Threat to Debt Relief in Africa PDF full book. Access full book title Vulture Funds and the Threat to Debt Relief in Africa by United States. Congress. House. Committee on Foreign Affairs. Subcommittee on Africa and Global Health. Download full books in PDF and EPUB format.
Author: United States. Congress. House. Committee on Foreign Affairs. Subcommittee on Africa and Global Health
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 36
Get Book Here
Book Description
Author: United States. Congress. House. Committee on Foreign Affairs. Subcommittee on Africa and Global Health
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 36
Get Book Here
Book Description
Author: Devi Sookun
Publisher: Commonwealth Secretariat
ISBN: 9781849290081
Category : Business & Economics
Languages : en
Pages : 148
Get Book Here
Book Description
This handbook distils the key lessons on best practice in negotiating loan agreements, and responding to the activities of vulture funds - funds that buy up the debt of sovereign countries at a discount in the hope of making significant profit - for the benefit of all government officials who may have to deal with these issues.
Author: Léonce Ndikumana
Publisher: Bloomsbury Publishing
ISBN: 1848134606
Category : Social Science
Languages : en
Pages : 152
Get Book Here
Book Description
In Africa's Odious Debts, Boyce and Ndikumana reveal the shocking fact that, contrary to the popular perception of Africa being a drain on the financial resources of the West, the continent is actually a net creditor to the rest of the world. The extent of capital flight from sub-Saharan Africa is remarkable: more than $700 billion in the past four decades. But Africa's foreign assets remain private and hidden, while its foreign debts are public, owed by the people of Africa through their governments. Léonce Ndikumana and James K. Boyce reveal the intimate links between foreign loans and capital flight. Of the money borrowed by African governments in recent decades, more than half departed in the same year, with a significant portion of it winding up in private accounts at the very banks that provided the loans in the first place. Meanwhile, debt-service payments continue to drain scarce resources from Africa, cutting into funds available for public health and other needs. Controversially, the authors argue that African governments should repudiate these 'odious debts' from which their people derived no benefit, and that the international community should assist in this effort. A vital book for anyone interested in Africa, its future and its relationship with the West.
Author: Mr.Udaibir S. Das
Publisher: International Monetary Fund
ISBN: 1475505531
Category : Business & Economics
Languages : en
Pages : 128
Get Book Here
Book Description
This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950–2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt agreements with the Paris Club. We present new stylized facts on the outcome and process of debt restructurings, including on the size of haircuts, creditor participation, and legal aspects. In addition, the paper summarizes the relevant empirical literature, analyzes recent restructuring episodes, and discusses ongoing debates on crisis resolution mechanisms, credit default swaps, and the role of collective action clauses.
Author: Ilias Bantekas
Publisher:
ISBN: 019881044X
Category : Business & Economics
Languages : en
Pages : 641
Get Book Here
Book Description
Sovereign debt is necessary for states to function, yet its impact on human rights is underexplored. Bantekas and Lumina gather experts to conclude that imposing structural adjustment programmes exacerbates debt, injures the entrenched rights of peoples and their state's economic sovereignty, and worsens the borrower's economic situation.
Author: Marco Arnone
Publisher: Routledge
ISBN: 1317154142
Category : Business & Economics
Languages : en
Pages : 297
Get Book Here
Book Description
This book deals with the recent debt crises in developing countries and analyzes the design and implementation of the Heavily Indebted Poor Countries (HIPC) Initiative, by providing background concepts, pointing out the main drawbacks and suggesting a different approach to debt sustainability and debt relief programs. The authors merge academic, operational and institutional expertise, in order to provide an evaluation as complete and balanced as possible on the much-debated effectiveness of debt relief in fostering economic growth, reducing poverty and reaching debt sustainability. Marco Arnone and Andrea F. Presbitero assess the joint evolution of external and domestic public debt and produce original empirical evidence on the potential effects of public debt on investment, economic growth and institution-building in low- and middle-income countries. The book also explores relevant and up-to-date policy issues, such as the loans-grants mix and the development of responsible lending strategies in foreign assistance, the surge of non-concessional and domestic borrowing by low-income countries, and the impact of the 2008-2009 global financial crisis on debt sustainability.
Author: Mitu Gulati
Publisher: University of Chicago Press
ISBN: 0226924386
Category : Law
Languages : en
Pages : 243
Get Book Here
Book Description
"Boilerplate language in contracts tends to stick around long after its origins and purpose have been forgotten. Usually there are no serious repercussions, but sometimes it can cause unexpected problems. Such was the case with the obscure pari passu clause in cross-border sovereign debt contracts, when a Belgian court's novel judicial interpretation in Elliott Associates v. Peru rattled international finance by forcing a defaulting sovereign - for one of the first times in the market's centuries-long history - to repay its foreign creditors despite their refusal to enter into a restructuring agreement. Though neither party wanted this outcome, the vast majority of contracts subsequently issued demonstrate virtually no attempt to clarify the imprecise language of the clause. Using this case as a launching pad to explore the broader issue of 'stickiness' of contract boilerplate, Mitu Gulati and Robert E. Scott have sifted through more than one thousand sovereign debt contracts - dating back to the nineteenth century - and interviewed hundreds of practitioners to show that the problem actually lies in the nature of the modern corporate law firm. The financial pressure on large firms to maintain a high volume of transactions contributes to an array of problems that deter innovation and that are largely hidden from the individual lawyer tasked with drafting contracts. With the near certainty of massive sovereign debt structuring in Europe, The Three and a Half Minute Transaction speaks to critical issues facing the industry and has broader implications for contract design that will ensure it remains relevant to our understanding of legal practice long after the debt crisis has subsided"--Unedited summary from book jacket.
Author: Patrick Bond
Publisher: Palgrave Macmillan
ISBN: 9781842773932
Category : Business & Economics
Languages : en
Pages : 356
Get Book Here
Book Description
In 'Against Global Apartheid', Patrick Bond reveals the extent of the economic and human damage caused by policies implemented by World Bank and the IMF in developing countries, particularly South Africa, and argues that there is another way to more socially just economic development.
Author: United Nations Conference On Trade And Development Staff
Publisher:
ISBN: 9788185040288
Category : Business & Economics
Languages : en
Pages : 0
Get Book Here
Book Description
This report of the United nations conference on trade and development examines current performances and prospects in this world economy.
Author: Duncan Green
Publisher: Oxfam
ISBN: 0855985933
Category : Social Science
Languages : en
Pages : 540
Get Book Here
Book Description
Offers a look at the causes and effects of poverty and inequality, as well as the possible solutions. This title features research, human stories, statistics, and compelling arguments. It discusses about the world we live in and how we can make it a better place.
