Tag Archives: Debt crisis

In the NZZ, René Höltschi reviews the Greek debt crisis since October 2009.

In the NZZ, René Höltschi reviews the Greek debt crisis since October 2009.

In the FT, Mehreen Khan reports about the IMF’s conditional acceptance to lend to Greece. The IMF’s “agreement in principle” (AIP) tool draws on a practice where the fund is able to greenlight its involvement in a debtor country, conditional on the government and its creditors agreeing to future debt relief measures. Of course, the dispute about the merits of debt relief is unresolved. The IMF thinks Greek debt is ‘unsustainable’ and the European creditors should bear more losses, earlier...

On Econofact, Daniel Bergstresser provides background information on Puerto Rico’s debt crisis. From his text: Unlike U.S. municipalities, a U.S. territory cannot resort to Chapter 9 of the Bankruptcy act. The island’s economy benefited from corporate tax exemptions (until 2006) and from tax exemptions on interest paid by municipal bonds issued by Puerto Rico and its agencies (“triple tax exemption”). Total bond indebtedness (face value) amounts to over $70 billion, about 70 percent of...