The Central African economy basically relies on exports of agricultural, mining and forestry products.

The Failure of China Bashing

One is underdevelopment.

Backwardness requires that we make much greater efforts.

Either banks need to default on their senior obligations, or the government will need to default alongside the banks.

Mental retardation developed from this disease usually leads to coma.

The dropout rate is about 30 .

The dropout rate is about 30 .

My hosts replied that they needed to keep up with China.

Portugal might follow Greece in a sovereign default and in leaving the eurozone.

The best way to get rid of debt (short of default) is to grow out of it.

To complicate matters, the lag works in both directions.

Most developing countries faced a serious risk of being left behind.

There were also the two defaults through inflation in 1920 and 1923.

Fifty least developed countries (LDCs) are seemingly caught in a trap of underdevelopment, poverty and structural weaknesses.

The number of defaults is largely irrelevant when it comes to a country like the UK, which is politically stable, carries significant economic weight, and has an independent central bank.

A wave of state defaults followed in the late 1830 s.

Instead of defaulting, countries arranged rescue packages with the IMF.

By being less concerned with preventing default, we can make risk and reward more congruent with each other.

Despite a messy default, this fresh start has generated a remarkable turnaround.

With a few exceptions, clusters so far tend to be underdeveloped in developing countries.

The only way out is for Greece to default on its sovereign debt.

At some point, these countries may well choose to default on their external obligations rather than endure the pain.

Despite real growth in gross domestic product, most least developed countries have fallen even further behind.

The main reason for the lag is not simply low demand or large debts.

Indeed, today Russia risks lagging even further behind the developed countries.

First, we need to increase our efforts to ensure that the Laggards are no longer left behind.

Some form of default will almost surely be forced upon Greece, and this may be the most preferable alternative.

Developing countries may benefit from the advantage of backwardness by replicating the structural change that has already occurred in higher income countries.

Moreover, it was not possible to ensure security while one billion human beings were in danger of being left behind.

Even in the US corporate sector, defaults will rise, owing to sharply higher corporate bond spreads.

First, governments should not be pushed into insolvency just to save all banks.

The costs of default depend on how messy things become when payments stop. What are the legal difficulties?

Al Azhar, do you want to be more monarchic than the monarch and the tradition of backwardness surrounding you, just to be able to pretend that you produce respectable students since wearing a hijab or not has become a measure of morality for you?

Either officials recognize immediately the inevitability of default and waste no resources trying to prevent it, or they believe that a default can be avoided and deploy all the resources at their disposal as fast as possible.

From 2010 onwards, governments started to raise taxes and cut spending in response to growing fears of sovereign default.

Perhaps Italy can survive, because most of its debt is held domestically, which makes default less likely.

By creating the European Central Bank, the member states exposed their own government bonds to the risk of default.

May God forgive you . Why did you allow them ( to stay behind ) without ascertaining who spoke the truth and who were liars ?

May Allah forgive you why did you permit them until the truthful ones had been manifested to you and the liars been exposed ? ( This is an expression of love for the Holy Prophet peace and blessings be upon him . The hypocrites had been permitted to stay back from the holy war . )

God pardon thee ! Why gavest thou them leave , till it was clear to thee which of them spoke the truth , and thou knewest the liars ?

Allah pardon thee ! why didst thou give them leave before it was manifest unto thee as to whosoever told the truth and thou hadst known the liars .

May Allah forgive you ( O Muhammad SAW ) . Why did you grant them leave ( for remaining behind , you should have persisted as regards your order to them to proceed on Jihad ) , until those who told the truth were seen by you in a clear light , and you had known the liars ?

May God pardon you ! Why did you give them permission before it became clear to you who are the truthful ones , and who are the liars ?

( O Prophet ) , may Allah forgive you ! Why did you give them leave to stay behind before it became clear to you as to who were truthful and who were liars ?