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Exchange Stabilization Fund And Argentina

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Exchange Stabilization Fund And Argentina

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Author : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on International Trade, Investment, and Monetary Policy
language : en
Publisher:
Release Date : 1984

Exchange Stabilization Fund And Argentina written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on International Trade, Investment, and Monetary Policy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Bank loans categories.

The Exchange Stabilization Fund

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Author : C. Randall Henning
language : en
Publisher: Peterson Institute
Release Date : 1999

The Exchange Stabilization Fund written by C. Randall Henning and has been published by Peterson Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Business & Economics categories.

The Exchange Stabilization Fund (ESF) holds more than $40 billion that is at the disposal of the US Secretary of the Treasury for use in foreign exchange intervention and international financial support operations. Its use in the Mexican rescue package of 1995 brought the ESF into the public spotlight for the first time in recent years, and it has been deployed in Brazil and several Asian crisis countries as well. Its availability for such packages and its total control by the Treasury secretary have therefore become very controversial. Randall Henning's study maintains that the Fund is an important element of US foreign policy and economic policy and that it should remain under the exclusive control of the Treasury, but that Congress should exercise effective oversight. Henning also covers the legislative history of the ESF and outlines the principles by which the Fund should be administered.

The Argentinian Debt

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Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on International Finance and Monetary Policy
language : en
Publisher:
Release Date : 1984

The Argentinian Debt written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on International Finance and Monetary Policy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Argentina categories.

The International Monetary Fund And Economic Stabilization

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Author : Luigi Manzetti
language : en
Publisher: Praeger
Release Date : 1991-07-18

The International Monetary Fund And Economic Stabilization written by Luigi Manzetti and has been published by Praeger this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-07-18 with Business & Economics categories.

In 1958, 1976, and 1985, Argentina experienced severe imbalances of its external accounts, which led to attempts at economic stabilization through an agreement with the International Monetary Fund. This book examines these IMF-supported programs and their success in alleviating Argentina's economic problems. Luigi Manzetti explores three aspects of the issue: the programs' impact on the Argentine economy from a policy management perspective; the methods by which different political regimes coped with similar problems and the level of their success; and the relationship between economic stabilization and political institutions, with particular emphasis on why IMF-supported programs encounter problems and how these problems can be overcome. Exploring the previously overlooked relationship between economic and public policies, Manzetti begins his study by examining the balance of payments problems that afflict developing countries along with the role played by the IMF in solving them. He assesses IMF involvement both in terms of economic theory and policy recommendations, portraying the academic debate that for years has surrounded the IMF. The peculiarities of the Argentine case are outlined, as are contending interpretations of the country's chronic economic crises. A set of three chapters fully details the stabilization plans of the Frondizi, Videla, and Alfonsin administrations. Finally, a concluding chapter argues that wrong assumptions by the IMF and the mistakes of Argentina's policy makers were responsible for the limited success of the programs. This work will be an important reference tool for courses in economic development and Latin American studies, as well as a useful resource for academic and professional libraries.

Argentina And The Fund

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Author : Michael Mussa
language : en
Publisher: Peterson Institute
Release Date : 2002

Argentina And The Fund written by Michael Mussa and has been published by Peterson Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.

The catastrophic crisis of late 2001 and early 2002 marks the tragic end to Argentina's initially successful, decade-long experiment with sound money and market-oriented economic reform. The IMF consistently Supported Argentina's stabilization and reform efforts in the decade leading up to the current crisis and often pointed to many of Argentina's policies as examples for other emerging-market economies to emulate. In this policy analysis, former IMF Chief Economist Michael Mussa addresses the obvious question: What went wrong in Argentina and what important errors did the IMF make in either supporting inappropriate policies or in failing to press for alternatives that might have avoided catastrophe? He emphasizes that the persistent inability of the Argentine authorities at all levels to run a responsible fiscal policy--even when the Argentine economy was performing very well--was the primary avoidable cause of the country's catastrophic financial collapse. The IMF failed to press aggressively for a more responsible fiscal policy. Mussa also addresses the role of the Convertibility Plan, which linked the Argentine peso rigidly at parity with the US dollar and played a central role in both the initial success and ultimate collapse of Argentina's stabilization and reform efforts. While the IMF accepted this plan as a basic policy choice of the Argentine authorities so long as it remained viable, it erred in the summer of 2001 by extending further massive support for unsustainable policies, rather than insisting on a new policy strategy that might have mitigated some of the damage from a crisis that had become unavoidable. Mussa lays out what needs to be done to restore economic andfinancial stability in Argentina and begin the process of recovery, including the proper role of the IMF and the international community. He also examines what the IMF can do to avoid repeating the types of mistakes it made in t

Argentina

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Author : International Monetary Fund. Western Hemisphere Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2018-07-18

Argentina written by International Monetary Fund. Western Hemisphere Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-18 with Business & Economics categories.

Despite a difficult economic context, President Macri’s administration, over the past two and a half years, has taken bold steps to eliminate a wide range of distortions in the economy. Efforts were also made to strengthen institutions (including the complete reconstruction of the statistics agency, in an effort to restore credibility to Argentine data), as well as an assertive effort to tackle corruption. Despite these efforts, a gradual approach to fiscal consolidation, combined with a tightening of global financial conditions, a poor harvest, and the introduction of a tax on nonresident holdings of short-term central bank paper, generated significant anxiety among market participants. Starting in mid-April, Argentina came under abrupt balance of payments pressures as both domestic and foreign investors decided to liquidate their position in onshore peso assets. To stem the outflows, the authorities significantly increased short-term interest rates, tightened fiscal policy, and sold foreign exchange. Shortly after taking these steps the government announced its intention to approach the IMF for an exceptional access Stand-By Arrangement.

Argentina

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2003-07-25

Argentina written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-07-25 with Business & Economics categories.

The transitional program is broadly on track and quantitative program targets have been met, but structural reforms have been delayed. There are still risks to revenues and expenditures from possible judicial decisions, and the fiscal program may need to be adapted for changes in the macroeconomic framework. Monetary policy continues to face significant uncertainties, and priority needs to be given to providing a predictable regulatory framework for the banking system. Policy preparation can facilitate the transition to the new government.

Latin American Financial Notes

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Author :
language : en
Publisher:
Release Date : 1940-02

Latin American Financial Notes written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1940-02 with Finance categories.

Exchange Stabilization Fund And Argentina

International Currency Experience

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Author : League of Nations. Economic, Financial, and Transit Department
language : en
Publisher:
Release Date : 1979

International Currency Experience written by League of Nations. Economic, Financial, and Transit Department and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with Business & Economics categories.

Exchange Stabilization Fund And Argentina

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