Pity the firemen
Article Abstract:
There are many challenges associated with dealing with currency crises in today's economic climate. In particular, it can be hard to distinguish between a liquidity crisis and a solvency crisis. The International Monetary Fund has taken a number of different approaches to dealing with currency crises, and has attracted considerable criticism. Financial architects are now beginning to believe that banks should be made to contribute to rescue packages, but this approach presents significant difficulties in practice. Other observers favour mandatory insurance, issued by an international credit insurance corporation.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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A wealth of blueprints
Article Abstract:
Many possible ways of reforming the world's financial system have been suggested, but most would not be an improvement on the existing system or have a realistic chance of being implemented. Considerable attention has focused on controlling capital flows, particularly those produced by short-term speculators. Efforts to prevent or reverse the general trend of capital-market integration will not be successful, and neither will suggestions based on a wholly free international market.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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Not there yet: World Bank
Article Abstract:
The World Bank's charter is to alleviate chronic poverty worldwide, but it now has the added dimension of needing to help Eastern Europe economically. The bank has traditionally been mired in bureaucracy, and that situation is already improving under its new head, former J.P. Morgan chairman Lewis Preston.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1992
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