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Setting Up a Sovereign Wealth Fund

Setting Up a Sovereign Wealth Fund »

Source: Setting Up a Sovereign Wealth Fund : Some Policy and Operational Considerations

Volume/Issue: 2009/179

Series: IMF Working Papers

Author(s): Christian Mulder , Amadou Sy , Yinqiu Lu , and Udaibir Das

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2009

ISBN: 9781451873269

Keywords: Sovereign wealth fund, SWF&;amp;#x2019;s policy objective, central bank, monetary fund, balance of payments, currency composition, external debt, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

This paper offers a policy and operational "roadmap" to policymakers considering setting up an SWF. It should also be of interest to policymakers in countries where SWFs are already in place, to review their existi...

Front Matter

Front Matter »

Source: Summary Proceedings of the Fifty-Sixth Annual Meeting of the Board of Governors, September 29, 2002

Series: Summary Proceedings

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2003

ISBN: 9781589062887

Keywords: debt, debt restructuring, debt relief, debt sustainability, sovereign debt

The speeches made by officials attending the IMF-World Bank Annual Meetings are published in this volume, along with the press communiqués issued by the International Monetary and Financial Committee and the Develo...

Are Sovereign Debt Secondary Market Returns Sensitive to Macroecoriomic Fundamentals?  Evidence from the Contemporary and Interwar Markets

Are Sovereign Debt Secondary Market Returns Sensitive to Macroecoriomic Fundamentals? Evidence from the Contemporary and Interwar Markets »

Volume/Issue: 1990/69

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1990

DOI: http://dx.doi.org/10.5089/9781451960624.001

ISBN: 9781451960624

Keywords: sovereign debt, bond, bonds, debt market, sovereign bond

The insensitivity of sovereign loan secondary market returns to macroeconomic fundamentals has been attributed to market illiquidity and the absence of publicly reported transactional prices. During the 1920s and 1...

IMF Survey, Volume 31, Issue 22

IMF Survey, Volume 31, Issue 22 »

Volume/Issue: 31/22

Series: IMF Survey

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2002

DOI: http://dx.doi.org/10.5089/9781451925678.023

ISBN: 9781451925678

Keywords: capital flows, debt restructuring, sovereign debt, sovereign debt restructuring, central bank, Third IMF Annual Research Conference,

IMF economists and researchers from outside the institution gathered at the IMF’s Third Annual Research Conference on November 7-8. The conference had an overarching theme of capital flows and global governa...

On the Information Content of Ldc Secondary Loan Market Prices

On the Information Content of Ldc Secondary Loan Market Prices »

Volume/Issue: 1991/20

Series: IMF Working Papers

Author(s): Mark Stone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1991

DOI: http://dx.doi.org/10.5089/9781451843781.001

ISBN: 9781451843781

Keywords: equation, statistics, sovereign debt, debt renegotiation, external debt

This note examines the impact of measurable and unmeasurable (not correlated with observed aggregates) information on secondary market LDC loan prices. The Institutional Investor country risk ratings are used to co...

Sovereign Default, Private Sector Creditors and the IFIs

Sovereign Default, Private Sector Creditors and the IFIs »

Volume/Issue: 2009/46

Series: IMF Working Papers

Author(s): Emine Boz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

DOI: http://dx.doi.org/10.5089/9781451871944.001

ISBN: 9781451871944

Keywords: sovereign debt and default, IFIs, debt, commercial debt, creditors, interest, private sector creditors,

This paper builds a model of a sovereign borrower that has access to credit from private sector creditors and an IFI. Private sector creditors and the IFI offer different debt contracts that are modelled based on t...

International Sovereign Bonds by Emerging Markets and Developing Economies
			: Drivers of Issuance and Spreads

International Sovereign Bonds by Emerging Markets and Developing Economies : Drivers of Issuance and Spreads »

Volume/Issue: 2015/275

Series: IMF Working Papers

Author(s): Andrea Presbitero , Dhaneshwar Ghura , Olumuyiwa Adedeji , and Lamin Njie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 December 2015

DOI: http://dx.doi.org/10.5089/9781513581729.001

ISBN: 9781513581729

Keywords: Sovereign bond issuance, bond spreads, developing countries, bonds, sovereign bonds, bond, markets, sovereign bond, International Lending and Debt Problems, Asset Pricing

What determines the ability of low-income developing countries to issue bonds in international capital and what explains the spreads on these bonds? This paper examines these questions using a dataset that includes...

Predicting Sovereign Debt Crises

Predicting Sovereign Debt Crises »

Volume/Issue: 2003/221

Series: IMF Working Papers

Author(s): Axel Schimmelpfennig , Nouriel Roubini , and Paolo Manasse

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2003

DOI: http://dx.doi.org/10.5089/9781451875256.001

ISBN: 9781451875256

Keywords: Early-warning system, sovereign debt crises, sovereign default, debt crisis, external debt, debt crises, short-term debt, currency crisis, General Outlook and Conditions, Forecasting and Other Model Applications

We develop an early-warning model of sovereign debt crises. A country is defined to be in a debt crisis if it is classified as being in default by Standard & Poor's, or if it has access to nonconcessional IMF finan...

Rating the Rating Agencies
			: Anticipating Currency Crises or Debt Crises?

Rating the Rating Agencies : Anticipating Currency Crises or Debt Crises? »

Volume/Issue: 2003/122

Series: IMF Working Papers

Author(s): Amadou Sy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2003

DOI: http://dx.doi.org/10.5089/9781451854510.001

ISBN: 9781451854510

Keywords: Crisis, distress, early-warning systems, probability of default, ratings, currency crises, currency crisis, debt crises, bond, sovereign default

In contrast to the early-warning system literature, we find that currency and debt crises are not closely linked in emerging markets. We find that after 1994, credit ratings predict debt crises but fail to anticipa...

Post-Crisis Recovery
			: When Does Increased Fiscal Discipline Work?

Post-Crisis Recovery : When Does Increased Fiscal Discipline Work? »

Volume/Issue: 2006/219

Series: IMF Working Papers

Author(s): Pritha Mitra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 October 2006

DOI: http://dx.doi.org/10.5089/9781451864793.001

ISBN: 9781451864793

Keywords: sovereign debt, foreign debt, long-term debt, budget surplus, General Aggregative Models: General, Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data), Open Economy Macroeconomics, Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation,

Emerging market financial crises during the late 1990s were marked by sudden withdrawals of funds by foreign creditors, resulting in production declines. The IMF favored positive signals to potential foreign credit...