Sentences with phrase «debtor countries as»

The structural adjustment imposed by the IMF and the World Bank on debtor countries as a condition of aiding them to renegotiate their debts has transformed the relative power of governments and economic actors.

Not exact matches

Toward debtor countries American diplomats work through the World Bank and IMF to demand that debtors raise their interest rates and impose taxes and austerity programs to keep their wages low, sell off their public domain to pay their foreign debts, and deregulate their economy so as to enable foreign investors to privatize local electricity, telephone services and other infrastructure formerly provided at subsidized rates to help these economies grow.

This monetarist theory has guided Russian economic reform (and its quick bankruptcy) under Yeltsin and his oligarchy, as well as Chile's privatization (and early bankruptcy) under Gen. Pinochet, and the austerity programs (and subsequent bankruptcies and national resource sell offs) imposed by the IMF on third world debtor countries.

As John Maynard Keynes explained, unless debtor countries can export more, they must pay either by borrowing (German states and municipalities borrowed dollars in New York and cashed them in for domestic currency with the Reichsbank, which paid the dollars to the Allies) or by selling off domestic assets.

Greece, Spain, Italy and other countries flirted with disaster as interest rates spiked, forcing the debtor nations to accept austerity programs.

In other parts of the country the fees can be as high as $ 1000 - $ 2000, and unfortunately, most bankruptcy lawyers are going to require debtors to pay these fees prior to filing the Chapter 7 Bankruptcy petition.

Most courts around the country use a three - prong test to determine if a debtor has established «undue hardship,» known as the Brunner test after Brunner v. N.Y. State Higher Educ.

While U.S. Steel is correct to say that a person can not be imprisoned for a civil debt for, as Justice Binnie held in R. v. Wu, [2003] 3 S.C.R. 530 (S.C.C.) at paragraph 2, «[d] ebtors» prison for impoverished people is a Dickensian concept that in civilized countries has largely been abolished», the Act does not provide for the possibility of U.S. Steel or any of its executives being sent to debtors» prison for the failure to pay a penalty imposed upon it.