Series: IMF Working Papers
Author(s): Manmohan Kumar , Paul Masson , and Marcus Miller
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2000
Keywords: lender of last resort, financial crises, short-term debt, sovereign debt, liquidity crises, short term debt, moral hazard
Increasing emphasis has been placed on the need for an effective lender of last resort for sovereign states and on procedures for sovereign debt restructuring to help cope with global financial crises. Where privat...