At least a dozen sub-Saharan Africa countries have raised debt through sovereign bonds. The chickens are now coming home to roost.
Articles on Sovereign debt
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Debt is the reason jitters for emerging markets are now worse than during the Asian financial crisis.
Credit rating agencies have come in for a lot of flack. But the bottom line is that to attract investors with deep pockets countries can’t avoid having a credit rating. And a good one at that.
A new IMF report predicts a crackdown on cheap credit in China will help reduce China’s real GDP growth rate from 7.4% last year to 6.8% this year and further weaken demand for Australian commodities.
Decades ago, before Yanis Varoufakis became the rock-star finance minister of Greece, he and I developed some game-theoretic models of macroeconomics. The gist of the work was this: for monetary authorities…
The same deep forces that were behind the election result in Queensland are being played out in Canberra. The Australian people want, although most won’t admit it, higher taxes – either now or in the future…
Since 2009, the economic situation of Greece has helped expose the architecture and policy regime problems of the European Union and the eurozone. On Sunday the Greek electorate rebelled against the self-defeating…
Sovereign debt, crises and default have been regular features of the Argentine economy for years – but the latest debt crisis, involving the government and the so-called “vulture funds”, has thrown up…
Sovereign debt is a crucial lubricant for growth, especially among emerging nations, and so it is equally crucial that we can ensure the interminable row over Argentina’s default is not repeated. Measures…
The Argentine government recently defaulted on its external debt. The country’s debt issues had been building up for some time and then, just over ten years ago the country’s newly-elected president, Néstor…
Unless you just returned from holiday in some ultra-remote region lacking newspapers, television or internet access (is there such a place?), you will be aware the government of Argentina has defaulted…
In imploring the world to be less dependent on the US dollar for international transactions, French finance minister Michel Sapin is expressing a wish that many of the euro’s creators hoped would already…
A missed debt repayment this week means Argentina further extends its exclusion from the world’s capital markets. The country must find the money to repay all its creditors, or agree to a restructuring…
What do the latest growth figures teach us about Europe? First, the overall growth performance of the European Union is worse and more fragmented than expected. GDP in vulnerable countries such as Greece…
Liberal MP Andrew Robb has criticised the rise in public debt under the current Gillard government in a recent ABC radio interview. During the interview, Robb claimed growth in public debt was excessive…
Last week was one of mixed fortunes for the Eurozone. The week began badly with news that Italy’s Prime Minister Mario Monti was resigning due to Silvio Berlusconi’s withdrawal of parliamentary support…
Up until fairly recently, Spain was a story of economic success. It was an example of how the periphery of Europe was quickly catching up with the core. Between 1995 and 2007, Spanish real GDP grew at…
The past few days have seen economic crisis management — if not the political landscape in the Eurozone — change fundamentally. On September 6, the ECB announced it would buy-back unlimited government…
Yesterday, the European Central Bank’s president, Mario Draghi, unveiled the European Central Bank’s rescue plan for the Eurozone. Mr Draghi said that the ECB is now prepared to buy sovereign bonds of…
On 23 July, the rating agency Moody’s put the triple A debt of Germany, the Netherlands, and Luxembourg on a negative outlook. The day after, the outlook on the European Financial Stability Fund was also…
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Dean of Business School, University of Southern Queensland
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School of Social Sciences, Monash University
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Principal Fellow, Melbourne Business School
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Post Doctoral Researcher, Graduate School of Business (GSB), University of Cape Town
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Professor of Economics, University of Sydney
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Professor/Senior Research Fellow, Centre for Advancement of Scholarship, University of Pretoria
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Emeritus Professor of Finance, The University of Melbourne
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Professor of Economics at Maastricht School of Management and Jean Monnet Chair, Technical University of Cologne
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Professor, International Studies, Swinburne University of Technology
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ARC Laureate Fellow, Scientia Professor of Law, UNSW
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Senior Lecturer, Department of Banking and Finance, Monash University
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Professor, Finance, UTS Business School, University of Technology Sydney
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Honorary Professor of Economics, UCL
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Professor Emeritus of Economics, SOAS, University of London
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Senior Fellow, Centre for Policy Research (UNU-CPR), United Nations University; Aston University