Threaten a few deadbeats.

And how'd he pay it back if he quit and moved west?

Japan is a net creditor and largely finances its debt domestically.

it was pursuing its efforts to reduce its trade deficit, repay its debt and liberalize its economy.

In the short run, Merrill, like the other investment banks, was allowed to double up its bets.

In fact, by the year 2000, 50 of Ecuador's national budget had to be allocated for paying its debts.

But it does not tell us whether or not a country is currently failing to service its debt.

Debt sustainability was essential the capacity of a country to make the necessary investments to satisfy social needs, without increasing its debt ratio.

But the official sector cannot write down its debt, because that would violate a number of taboos, particularly for the ECB.

This view is embodied in the no bailout clause in the euro s founding document, which stipulates that each country is responsible for its own public debt.

Debt reduction agreements should be tailored to the servicing capacity of a debtor country, taking into account social restraints.

5. Stresses the need to ensure the long term financial viability of the Institute as it relates to its debt and rent and maintenance costs

But and here s the point with its debts written off, the banking system is now recapitalized and able to support economic growth.

Banks and bond holders had lost hundreds of millions of dollars, but opted to restructure his debt to avoid the risk of losing more money in court.

Our country apos s external debt of 10.8 billion places us in a much worse position than any other high debt, low income country.

That could lead international investors to withhold funds from a departing country and raise substantially the interest rate on its national debt.

As the private sector deleverages and attempts to rebuild its balance sheets, consumption and investment demand have collapsed, bringing output down with them.

Most would view an individual country as having an external debt crisis if it fails to pay interest or repay principal on its foreign debts on schedule.

This is true for the banking system, which has not de leveraged to the satisfaction of either regulators or the markets, thus limiting the scope for credit growth.

Algeria was also a developing country that had rescheduled its debt and was working on International Monetary Fund programmes, resulting in considerable cuts in social projects.

It was interesting to note that it had adopted such a categorical position with respect to the members of the Commonwealth of Independent States, while it itself had received extensions in the repayment of its debts with respect to the West.

The Paris Club, for its part, emphasized a country apos s reform track record as the basis for considering reductions in debt stock and exit rescheduling.

Legally, of course, this guarantee is only worth the solvency of the guarantor in this case the near bankrupt Cypriot state.

Even an economy with an overall budget deficit will have a declining government debt GDP ratio if the growth rate of its nominal GDP exceeds that of its debt.

The bottom line is that deficit spending is now fighting a losing battle with an economy that is deleveraging and restructuring its balance sheets, its exports, and its microeconomic composition in short, its future growth potential.

quot 25. With regard to another obligation, the Security Council, in paragraph 17 of resolution 687 (1991), demands that Iraq scrupulously adhere to all of its obligations concerning servicing and repayment of its foreign debt.

One clear cut indicator of a country apos s failure to service its debt and thus its being in a debt crisis is the accumulation of payments arrears, because arrears are nothing but the direct result of debt servicing failure.

The only other approach to the problem under current practices is an ad hoc mobilization of a group of bilateral donors to assist a country that becomes unable to service its multilateral debt and builds up arrears.

In August, Burundi became the twenty eighth country to qualify for the World Bank and International Monetary Fund Enhanced Heavily Indebted Poor Countries initiative, and can expect its debts to be remitted.

20. Mr. VAN DE CRAEN (Belgium), speaking on behalf of the 12 member States of the European Union, welcomed the fact that UNITAR had cancelled its debt, transferred its headquarters and carried out substantial restructuring.

The eurozone cannot stabilize in political and economic terms without a solid framework for crisis resolution and an ability to deal with sovereign default by a member state.

But Mexico put the debt crisis behind it in 1990 by restructuring its bank debts within the framework of the Brady plan, and it has since become one of the most sought after hosts of foreign private capital in Latin America.

Automatic fines would punish any country whose debt to GDP ratio exceeds the Maastricht Treaty s 60 cap or whose budget deficit exceeds the 3 of GDP limit.

To move forward, the Secretary General has proposed that debt sustainability be redefined as the level of debt that allows a country to achieve the Millennium Development Goals by 2015 without an increase in its debt ratios.

Several speakers expressed their support for the Secretary General's proposal to define debt sustainability as the level of debt that would allow a country to achieve the Millennium Development Goals by 2015 without an increase in debt ratios.

Numerous countries the number ranges from 64 to 72, depending on the definition used still face a debt crisis in the sense that either they are in arrears or they have not been able to fully service their debt recently without special arrangements.

I can testify from personal experience that investors would flock to Greece once the debt overhang was removed. But the official sector cannot write down its debt, because that would violate a number of taboos, particularly for the ECB.

A growing number of people, inside and outside of the country, are starting to blame the revolution itself for derailing an economy that was growing, reducing its external debt burden, and maintaining a comfortable cushion of international reserves.

The idea is attractive, but it must be recognized that a joint guarantee implies that each of the participating countries will give their partners access to their own taxpayers, who may be required to stand in for a defaulting borrower.

In this context, Morocco spares no effort to assist many African countries, for example, by writing off loans, extending valuable assistance in the areas of health care and education, and allocating more than 90 per cent of its international cooperation budget to the assistance of African countries.

The Russian Federation stood ready to negotiate such restructuring with the debtors and lenders and to restructure its debt in any other way, either through bilateral negotiations or within the framework of the Paris Club which it would like to join as a member or at least as an observer.

His country had recently been assured of debt relief amounting to US 2 billion in net present value terms and, while that had had a positive and visible impact on the health and education sectors, it had been insufficient to sustain the economic growth needed to achieve the Goals.

While it was well known that the Paris Club provided debt restructuring only after the country concerned had entered into a stand by or other longer term arrangement with IMF, it was a lesser known fact that IMF was involved in the restructuring of debt owed to commercial banks.