Explore the vast range of titles available.

This paper delves into the complexities of sovereign debt restructuring in the 21st century, including the rising debt burdens of developing countries, the growing influence of private creditors and new official creditors, and novel economic pressures generated by climate change. It argues for a multi-faceted approach to promote sustainable debt management that goes beyond existing mechanisms. It proposes the establishment of a permanent institution to negotiate debt restructuring together with specific mechanisms to manage the current debt crisis. The latter could be based on revisions to the Common Framework for Debt Treatment or an alternative instrument. Additionally, it emphasizes the importance of strengthening debt transparency through a global debt registry and improved reporting standards. It also explores the role of responsible lending and borrowing practices, the regulation of credit rating agencies, and early warning systems to enable proactive risk management. It also examines innovative debt instruments such as debt-for-nature swaps, sustainable bonds, and state-contingent bonds, highlighting their potential to address specific challenges. Ultimately, the paper underscores the need for a collaborative effort among all stakeholders – international financial institutions, national governments, and private creditors – to build a more resilient and sustainable international debt architecture.

Foreign direct investment and private capital flows are highly concentrated geographically, with almost half of them reaching five top destinations. These flows tend to evade many high-risk countries. Regulatory and contractual risks, particularly in infrastructure, have inhibited investments in many parts of the developing world. A core objective of the World Bank Group (WBG) has been to support the flow of private investment for development; guarantees and insurance have been among the instruments that the WBG has used to pursue this objective. This study examines three main questions: • Should the WBG be in the guarantee business? • Have guarantee instruments in the three WBG institutions been used to their potential as reflected in WBG expectations and perceived demand? • Is the WBG appropriately organized to deliver its range of guarantee products in an effective and efficient manner?

Money market is a very important component in the financial market, since it's involved the trading of short term borrowing, lending, buying and selling with original maturities of one year or less. One of the importances of the money market is its function to provide financing for business. This paper's main contribution is to give a better understanding from the business law perspective on the money market; and to give a broader analysis on the financial institution including money market in Indonesia for the purpose of corporate financing. Indonesian money market needs to be rearranged to cope with the business needs. The first objective of this paper is to understand the institution of money market in Indonesia in order to cope with the business need for short term financing. The second objectives is how to develop an effective money market operation in Indonesia in order to attract potential investors.

The focus of capital structure research has now been diverted towards understanding the discriminating features of different debt instruments and explaining why to select a specific type of debt among different options? When companies predominantly borrow from fewer debt types, it is regarded as debt specialization (DS). The existence of DS has been empirically confirmed in some of the developed countries. But, researchers are far from reaching a conclusion that DS is a global phenomenon. Therefore, this paper is aimed to extend the canvas of DS debate by proffering new evidences for the existence and relevance of DS strategy among different organizational grouping. We use panel data for 410 non-financial publically traded companies of Karachi Stock Exchange from 2009 to 2013. The results of cluster analysis, threshold and conditional debt structure has confirmed the presence of DS. Our empirical findings indicate that 67% of the organizations exclusively rely on a single type of debt. The short term debts dominate in the debt structure of Pakistani companies, followed by secured and other long term debts. Additionally, through a comparative analysis among various organizational grouping based on profitability, age, credit rating, size, leverage, growth, dividend payments, regulations and business group affiliation, we identified similar trends of DS prevailing in five of the nine selected grouping variables. The paper also suggests several implications and directions for future research.

The history of debt relief goes back several decades. It reveals that a country's accumulation of unsustainable debt stems from such factors as deficiencies in macroeconomic management, adverse terms-of-trade shocks, and poor governance. Debt-relief initiatives have provided debt-burdened countries with the opportunity for a fresh start, but whether the benefits of debt relief can be preserved depends on transformations in a country's policies and institutions. In 1996, the Heavily Indebted Poor Countries (HIPC) Initiative was launched as the first comprehensive, multilateral, debt-relief framework for low-income countries. In 2005, the Multilateral Debt Relief Initiative was established, which increased the level of debt relief provided to HIPCs. As of early 2009, assistance through these two initiatives had been committed to 35 countries and amounted to US$117 billion in nominal terms, or half of the 2007 GDP of these countries. 'Debt Relief and Beyond' assesses the implications of debt relief for low-income countries and how its benefits can be preserved and used to fight poverty. The chapter authors bring unique operational experience to their examination of debt relief, debt sustainability, and debt management. Several key questions are addressed, including, what consequences does debt relief have for poverty-reducing expenditures, growth, and access to finance? Can debt relief guarantee debt sustainability? How can debt management at all levels of government be improved? What lessons can be learned from countries that have experienced debt restructuring? Finally, this book provides sound empirical evidence using current econometric techniques.

The private health sector was officially recognized in the Republic of Congo over 20 years ago June 6, 1988, establishing the conditions for the independent practice of medicine and the medical-related and pharmaceutical professions. The Congolese government recently expressed its commitment to working with the private health sector in order to strengthen the health system, improve the health of the population and preserve the basic human right to a healthy life through the National Health Care Policy, which it adopted in 2003, the 2007-2011 National Health Development Plan and the 2010 Health Care Services Development Program. Throughout these various documents there is an acknowledgement that the lack of coordination with the private health sector is a weakness of the health system. Nevertheless, the scarcity of information about the private sector in policy and planning documents suggests that the government's engagement with the private health sector is limited. There is no official government policy on the private health sector, or strategies or working plans to encourage cooperation between the public and private sectors. The objective of this assessment was to better determine the role, position, and importance of the private sector within the health system, in order to identify the limitations to its development as well as ways it can be integrated into the efforts to meet the objectives of the Plan national de developpement sanitaire (PNDS) [National Health Development Plan]. The World Bank Group contracted with the Results for Development Institute (R4D, United States) and Health Research for Action (HERA, Belgium) as well as with a team of local consultants, to conduct a 'study of the private health sector in the Republic of Congo.' This study was conducted in close collaboration with the Ministry of Health and Population (MSP), which arranged and oversaw a steering committee consisting of actors from the public and private sectors to facilitate and guide the study. The goal of the study and the workshops was a concrete plan of action for the health sector that could be used by the Congolese government, the private sector in the Republic of Congo, and international development partners. Certain aspects of the action plan should be included in the work programs of the Programme de developpement des services de sante (PDSS) [Health System Development Project] for the years 2011-2013.