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Paris Club
Paris Club () is a group of major creditor countries aiming to provide a sustainable way to tackle debt problems in debtor countries. Its creation, which is the first informal meeting, dates back to 1956, when Argentina agreed to hold a meeting with its public creditors. The Paris Club treats public claims (that is to say, those due by governments of debtor countries and by the private sector), guaranteed by the public sector to Paris Club members. A similar process used to occur for public debt held by private creditors in the London Club, which was organized in 1970 on the model of the Paris Club as an informal group of commercial banks renegotiating together the debt they hold on sovereign debtors (countries to which they extended loans) which were no longer able to repay. Creditor countries meet c. ten times a year for ''Tour d'Horizon'' and negotiating sessions. To facilitate Paris Club operations, the French Treasury provides a small secretariat, and the Director general ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paris
Paris () is the Capital city, capital and List of communes in France with over 20,000 inhabitants, largest city of France. With an estimated population of 2,048,472 residents in January 2025 in an area of more than , Paris is the List of cities in the European Union by population within city limits, fourth-most populous city in the European Union and the List of cities proper by population density, 30th most densely populated city in the world in 2022. Since the 17th century, Paris has been one of the world's major centres of finance, diplomacy, commerce, culture, Fashion capital, fashion, and gastronomy. Because of its leading role in the French art, arts and Science and technology in France, sciences and its early adoption of extensive street lighting, Paris became known as the City of Light in the 19th century. The City of Paris is the centre of the Île-de-France region, or Paris Region, with an official estimated population of 12,271,794 inhabitants in January 2023, or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Christian Noyer
Christian Noyer (; born 6 October 1950) is a French economist who served as Governor of the Bank of France from 2003 to 2015. In this capacity, he chaired the Bank for International Settlements from 2010 until 2015. He had previously served as vice president of the European Central Bank from 1998 to 2002. Career Appointed to the Treasury in the Ministry of the Economy and Finance in 1976, Noyer subsequently spent two years in Brussels from 1980 to 1982 at France's permanent representation to the European Communities. Back at the Treasury, he held a range of posts dealing with both domestic issues (government cash and debt management, banking affairs, financing of industry and state-owned enterprises) and international affairs (multilateral issues, export financing). In 1995, he became chief of staff to Finance Minister Jean Arthuis. Noyer was appointed Governor of the Bank of France in 2003 by then-President Jacques Chirac and confirmed for a second term by his successor, Nicol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Write-off
A write-off is a reduction of the recognized value of something. In accounting, this is a recognition of the reduced or zero value of an asset. In income tax statements, this is a reduction of taxable income, as a recognition of certain expenses required to produce the income. Income tax In income tax calculation, a write-off is the itemized deduction of an item's value from a person's taxable income. Thus, if a person in the United States has a taxable income of $50,000 per year, a $100 telephone for business use would lower the taxable income to $49,900. If that person is in a 25% tax bracket, the tax due would be lowered by $25. Thus the net cost of the telephone is $75 instead of $100. In order for American business owners to write off business expenses, the Internal Revenue Service states that purchases must be both ordinary and necessary. This means that deductible items must be usual and required for the business owner's field of work. For example, a telemarketer may ded ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vicious Circle
A vicious circle (or cycle) is a complex chain of events that reinforces itself through a feedback loop, with detrimental results. It is a system with no tendency toward equilibrium (social, economic, ecological, etc.), at least in the short run. Each iteration of the cycle reinforces the previous one, in an example of positive feedback. A vicious circle will continue in the direction of its momentum until an external factor intervenes to break the cycle. A well-known example of a vicious circle in economics is hyperinflation. When the results are not detrimental but beneficial, the term virtuous cycle is used instead. Examples Subprime mortgage crisis The contemporary subprime mortgage crisis is a complex group of vicious circles, both in its genesis and in its manifold outcomes, most notably the late 2000s recession. A specific example is the circle related to housing. As housing prices decline, more homeowners go " underwater", when the market value of a home drop ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Latin American Debt Crisis
The Latin American debt crisis (; ) was a financial crisis that originated in the early 1980s (and for some countries starting in the 1970s), often known as '' La Década Perdida'' (The Lost Decade), when Latin American countries reached a point where their foreign debt exceeded their earning power, and they could not repay it. The IMF's response to the crisis has been criticized for prolonging unsustainable borrowing and transferring private banking losses onto taxpayers, which deepened the region’s debt overhang and delayed necessary market corrections. Origins In the 1960s and 1970s, many Latin American countries, notably Brazil, Argentina, and Mexico, borrowed huge sums of money from international creditors for industrialization, especially infrastructure programs. These countries had soaring economies at the time, so the creditors were happy to provide loans. Initially, developing countries typically garnered loans through public routes like the World Bank. After 1973, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt Sustainability Analysis
Debt Sustainability Analysis (DSA) or Debt Sustainability Model (DSM) is an analysis of a nation's capacity done by the International Monetary Fund and the World Bank Group The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Group ... that helps determine whether the nation can service its ensuing debt and fiscal policy objectives without making excessively large adjustments that could potentially compromise its stability. It is often used to gauge a developing nation's financing requirements and capacity to make repayments. For example, in March 2021 Kenya and Madagascar were assessed. Additional reading Martin Guzman and Daniel Heymann - ''The IMF Deft Sustainability Analysis: Issues and Problems'' References {{Macroeconomics-stub Financial data analysis Debt International Monetary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cornell University Press
The Cornell University Press is the university press of Cornell University, an Ivy League university in Ithaca, New York. It is currently housed in Sage House, the former residence of Henry William Sage. It was first established in 1869, making it the first university publishing enterprise in the United States, but was inactive from 1884 to 1930. The press was established in the College of the Mechanic Arts, as mechanical engineering was called in the 19th century, because engineers knew more about running steam-powered printing presses than literature professors. Since its inception, The press has offered work-study financial aid: students with previous training in the printing trades were paid for typesetting and running the presses that printed textbooks, pamphlets, a weekly student journal, and official university publications. Today, the press is one of the country's largest university presses. It produces approximately 150 nonfiction titles each year in various disci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt Restructuring
Debt restructuring is a process that allows a private or public company or a sovereign entity facing cash flow problems and financial distress to reduce and renegotiate its delinquent debts to improve or restore liquidity so that it can continue its operations. Replacement of old debt by new debt when not under financial distress is called " refinancing". Out-of-court restructurings, also known as s, are increasingly becoming a global reality. Motivation Debt restructuring involves reduction of debt and an extension of payment terms and is usually less expensive than bankruptcy. The main costs associated with debt restructuring are the time and effort spent negotiating with bankers, creditors, vendors, and tax authorities. In the United States, small business bankruptcy filings cost at least $50,000 in legal and court fees, and filing costs in excess of $100,000 are common. By some measures, only 20% of firms survive Chapter 11 bankruptcy filings. Historically, debt restr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Odile Renaud-Basso
Odile Renaud-Basso (born 2 June 1965) is a French civil servant who has been serving as president of the European Bank for Reconstruction and Development since 2020. From 2016 to 2020, she served as head of the Direction générale du Trésor. From 2018 to 2020, she served as vice president of the Economic and Financial Committee of the European Union The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The u .... References {{DEFAULTSORT:Renaud-Basso, Odile 1965 births Living people Presidents of the European Bank for Reconstruction and Development French women civil servants 21st-century French civil servants ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
