In Spain, the counterpart to the current account deficit was private sector borrowing.

When interest rates decline, borrowers are able to borrow more.

Consider the belief that the more the government borrows, the higher the future tax burden will be.

It is no secret that sovereign bonds carry significantly higher borrowing costs than concessional debt does.

It also agreed that on a temporary basis the necessary funds should be borrowed from the Working Capital Fund.

The only way to sustain economic growth in the face of such an imbalance is to borrow surplus savings from abroad.

The US federal government s borrowing exceeded tax revenues in every year since the end of World War II.

If you want to keep borrowing money, you need to convince your lender that you can repay. That much is clear.

In 1900 the Shah financed a royal tour of Europe by borrowing 22 million rubles from Russia.

Thus, they run the risk that a spike in interest rates would feed back relatively quickly into higher borrowing costs.

The dollar is weakening, as financial markets understand that the US will need to borrow huge sums from abroad for years to come.

This source of vulnerability has become less important, owing to tight restrictions imposed since the 1990 s on local governments borrowing capacity.

(a) The agreement does not create for the United Nations any legal or financial obligation to borrow any part of the 1.2 billion from the host country or in any way restrict the Organization's discretion in deciding whether to borrow such funds

And countries facing depressions and rapidly weakening inflation typically face very low borrowing costs investors purchase government bonds for want of profitable alternatives.

Developing countries have also increasingly borrowed in their own currencies during the last few years, thus reducing their foreign exchange exposure. For those developing countries that remain heavily indebted abroad, an increase in risk premia would almost certainly bring economic turmoil, if not crisis.

Flooding banks with central bank money is no guarantee that deposits, which arise from spending or borrowing money, will increase in the same proportion.

There would be worries that adding cocos to sovereign bonds might raise governments borrowing costs.

Emphasizes that no peacekeeping mission shall be financed by borrowing funds from other active peacekeeping missions

As for the rest, the amounts that are not already committed to the peripheral countries could be used to support borrowing that can be lent onward to Italy and Spain.

For the moment, America s ability to borrow vast sums at low interest rates acts like a huge dose of steroids on the economy.

Rising asset prices lead to a general increase in purchasing power, because many asset holders are willing (and able) to borrow more.

There are a number of schemes floating around for leveraging Germany s lower borrowing costs to help its partner countries, beyond simply expanding the ECB s balance sheet.

By mid July, however, the cost of borrowing for Spain and Italy was nearing four points, and France s borrowing conditions were rapidly deteriorating.

Latin America s low personal debt levels have created an opportunity to build a constructive culture of borrowing while expanding economic opportunity.

Some women wanted to borrow money but were not able to do so, and did not appear to perceive the bank as an appropriate place from which to borrow money.

Unfortunately, government borrowing to finance its deficit over the rest of this decade is projected to absorb about 5 of GDP.

Usually, low interest rates lead firms to borrow more to invest more, and greater indebtedness is matched by more productive assets.

The more the government borrows to pay for its spending today, the more the public saves to pay future taxes, canceling out any stimulatory effect of the extra borrowing.

The result was a dramatic reduction in the British state s borrowing costs and the emergence of a well functioning capital market, which caused private borrowing costs to fall as well.

Emerging markets have resorted to a variety of instruments to limit private sector borrowing abroad taxes, unremunerated reserve requirements, quantitative restrictions, and verbal persuasion.

If the IMF were to ease the terms on its Greek loans, it would likely face fierce protests from its less wealthy debtors and risk compromising its status as senior creditor an outcome that even the Fund s largely quiescent Board of Governors is unlikely to accept.

The fundamental problem is simple the market cannot be brought back into equilibrium when savers do not want to lend to those who would be willing to take these savings.

The deliberate undervaluation of China s currency, and the fall in the dollar, are both putting a squeeze on the export prospects of the European Union members and other countries like Canada and Mexico, and China s covert and not so covert export subsidies and import barriers exacerbate the problem.

And rising house prices in some regions make it easier to borrow even more to spend on other daily needs such as diapers and baby food.

The foreign borrowing of Kazakh banks amounted to around 50 of GDP, with many of these funds used for construction projects.

With a modest fiscal deficit, record low borrowing costs, and a huge current account surplus, Germany has the financial firepower to unleash a significant stimulus.

Given the negative consequences of this approach, it might be wise for the central government to consider establishing, for the short run, quotas or ceilings for total local government borrowing.

Other countries, by contrast, face ruinously high borrowing costs, which are simultaneously increasing the scale of their reform challenges and narrowing their political scope to address them.

When an occasional peak at one duty station coincides with a low period at another, staff loans take place to make more efficient use of the resources available.

And enlarging the EFSF to an appropriate size would require massive additional French borrowing, which could well place France itself at the receiving end of a speculative attack.

Even more staggeringly, US borrowing now soaks up more than two thirds of the combined excess savings of all the surplus countries in the world, including China, Japan, Germany, and the OPEC states.

To date, the premiums charged are small for an overnight loan of 100 million, even a one percentage point spread in the interest rate is only 3000.

Middle income families also insist on buying homes, despite the highest multiple of home price to income among advanced economies and a housing finance system that imposes high borrowing costs.

Only governments that are chronically unable to finance their outlays with domestic taxes or domestic debt must keep borrowing large sums abroad.

With the US government now borrowing around 40 of every dollar it spends, a truly binding debt ceiling would immediately force the government to reduce spending radically and in a disorderly fashion.