And then you offer to refinance that debt and pay even more interest.

Funds could be used for recapitalizing the banks and retiring some debt.

212. One reason was the link between receivables financing and factoring.

His country might even be able to finance its arrears if such war debts were paid.

In fact, large depositors are not unlike senior bondholders, and the proposed haircut was a small but welcome step forward.

Taxation remains the dominant source of government revenue in most developed countries. But the role of debt finance has been growing and, with it, the need to refinance old debt when total expenditure, including debt service, exceeds total revenue.

We must also bear in mind the role that debt plays as a financing tool for development debt financing is appropriate only where there is a reasonable expectation that loans will be repaid.

But when local governments are barred from debt finance, they look for other means.

Recycling debt to finance economic, social and environmental projects should be considered.

The debt ceiling absolutists grossly underestimate the massive adjustment costs of a self imposed sudden stop in debt finance.

Finally, increasing financial leverage means that the firm uses more debt financing relative to equity financing.

12. UNDCP is examining proposals for engaging in debt conversion and is currently exploring the possibility of financing a project of integrated development from a debt reduction scheme.

New and innovative funding mechanisms are also required, such as debt swaps and increased opportunities for microfinance.

He encouraged the Group to come up with further proposals for development financing in addition to their debt relief initiatives.

They can also co finance DDSR operations, although Japan has been the only creditor Government to have done so to date.

These reforms consist primarily of reconfiguring the responsibility for financing the welfare of the elderly between different segments of society.

Clearly, current debt relief initiatives enable our countries to use precious resources for financing development, but they do not ensure our debt sustainability.

We are old, Chevalley, very old.

With international investors no longer willing to finance this deficit, and even shying away from refinancing existing Greek debt, only three possibilities remain.

The Senior Economic Affairs Officer, Financing for Development Office, Department of Economic and Social Affairs, and the Chief, Debt and Development Finance Branch, United Nations Conference on Trade and Development, made introductory statements.

Debt relief will open doors for the financing of critical projects in electric power, roads, and ports.

We support the movement towards debt forgiveness, and we also believe in the creative identification of alternative sources of financing aid for development.

There is a greater need for the countries to try to make debt finance a positive source of financing for development.

In addition to the high level segment, a working level segment could explore one of the issues of regional priority, such as the funding requirements for the care of older persons.

In several cases, the early strategy even aggravated the problem by arranging new lending to help finance existing debt servicing, which mainly postponed a more severe debt servicing crisis.

The elderly

It is certainly right, in principle, to argue that the banks should participate in financing the resolution of the debt crisis.

Several major lenders absconded with large amounts of deposits, and defaults by ordinary companies have become a serious concern.

A senior Italian banker once said that Italian banks would be hanged by the Ministry of Finance if they sold any of their government debt holdings.

To lend more to Spain s government so that it can recapitalize the country s banks adds to its debt burden and scares markets, which fear future debt restructuring.

Similarly, weak banks with overhanging debts that prevent them from funding worthy investments are a drag on the economy.

Indeed, as most of the top market borrowers were in Latin America, the international debt problem was often referred to as the Latin American debt crisis.

They're too big.

They are too big.

(Laughter)

They are very big.

The elderly and disabled persons

The involvement of senior officers

The adoptive elders...

Old customs indeed!

They're all so old.

B. External debt and debt relief

The resolution, moreover, calls for the treatment of multilateral debt to alleviate debt and debt service burdens.

The ability to refinance government debt and keep costs down is essential to strengthening public finances and boosting GDP growth.

The debt crisis erupted in many of the developing countries when foreign private creditors ceased to finance balance of payments deficits.