A report by Christian Aid, Enough is Enough: The Debt Repudiation Option, hypothesises that had the money spent to
service foreign debt «been spent on healthcare, education and infrastructure, the millennium development goals — which today seem like a fantasy — might have been within the world's grasp» (p. 9).
Capital outflows have depressed emerging market currencies, which has made
servicing their foreign debts more costly.
Not exact matches
Unhedged
foreign currency
debt, as was prominent in 1997, means that a fall in the currency pushes up
debt servicing costs for the government, local corporates and banks, but a rise in interest rates to assist the exchange rate has the same adverse effect.
But as most
debts are denominated in euros — and owed mainly to
foreign banks or their local branches — devaluation would cause a sharp jump in
debt service, causing even more defaults and negative equity in real estate.
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.
The devastating LDC
debt crisis of the 1980s, which began in August 1982 when the Mexican government announced that it was unable to
service its obligations to
foreign banks, ended only in 1990, when these loans were exchanged for a nominal amount of Brady bonds equal to only 65 % of the original notional amount of outstanding loans.
How can U.S. labor compete with
foreign labor when employees and their employers are obliged to pay such high mortgage
debt for its housing, such high student
debt for its education, such high medical insurance and Social Security (FICA withholding), such high credit - card
debt — all this even before spending on goods and
services?
To some extent, these concerns are allayed by the existence of natural hedges, such as
foreign currency export income, although rising US dollar - denominated
debt servicing costs at a time of falling US dollar - denominated commodity revenues would obviously be problematic.
The more dependent Russia becomes on
foreign money and
foreign bank credit, the more it needs to divert its ruble - money to pay
debt service.
The ruble's exchange rate has fallen as more rubles are thrown onto currency markets to obtain the dollars needed to pay interest and
debt service on
foreign loans (and to sustain capital flight in the absence of controls).
And
foreign lending and
debt service, military spending and financial speculation are an inherent part of the global system affecting exchange rates.
If the trade is in balance and America has a huge balance of payments surplus from all the
debt service that countries owe in dollars — plus a huge remission of profits by American companies that have bought out
foreign industry — then the dollar's exchange rate would soar.
The Colombian and Chilean pesos were floated in September after periods of speculative attack (although the Colombian peso has recovered a little since), the Brazilian real fell on continuing budget imbalances and US dollar
debt servicing and Ecuador's sucre has been under pressure following that country's default on some
foreign debt and persistent domestic stagflation.
As a condition for resuming
debt service foreign to
foreign creditors, Russia is in a favorable position to bargain.
In the 1980s, when the sharp rises in
foreign debt and its
servicing costs were occurring, the Australian economic debate was, not surprisingly, pre-occupied with these issues.
It, and the
foreign currency
debt servicing payments, are therefore subject to valuation effects when the exchange rate changes; currency depreciation increases the
debt -
servicing costs in Australian dollar terms.
The decline in world interest rates over the past few years has seen the
servicing burden of
foreign debt fall to around the levels of the early 1980s.
While falling world interest rates have reduced the
servicing cost of
foreign debt over the past two years, this has been offset by rising dividend payments on
foreign holdings of Australian equity, reflecting the strong profit growth of Australian companies throughout this period.
Examples of these risks, uncertainties and other factors include, but are not limited to the impact of: adverse general economic and related factors, such as fluctuating or increasing levels of unemployment, underemployment and the volatility of fuel prices, declines in the securities and real estate markets, and perceptions of these conditions that decrease the level of disposable income of consumers or consumer confidence; adverse events impacting the security of travel, such as terrorist acts, armed conflict and threats thereof, acts of piracy, and other international events; the risks and increased costs associated with operating internationally; our expansion into and investments in new markets; breaches in data security or other disturbances to our information technology and other networks; the spread of epidemics and viral outbreaks; adverse incidents involving cruise ships; changes in fuel prices and / or other cruise operating costs; any impairment of our tradenames or goodwill; our hedging strategies; our inability to obtain adequate insurance coverage; our substantial indebtedness, including the ability to raise additional capital to fund our operations, and to generate the necessary amount of cash to
service our existing
debt; restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business; the significant portion of our assets pledged as collateral under our existing
debt agreements and the ability of our creditors to accelerate the repayment of our indebtedness; volatility and disruptions in the global credit and financial markets, which may adversely affect our ability to borrow and could increase our counterparty credit risks, including those under our credit facilities, derivatives, contingent obligations, insurance contracts and new ship progress payment guarantees; fluctuations in
foreign currency exchange rates; overcapacity in key markets or globally; our inability to recruit or retain qualified personnel or the loss of key personnel; future changes relating to how external distribution channels sell and market our cruises; our reliance on third parties to provide hotel management
services to certain ships and certain other
services; delays in our shipbuilding program and ship repairs, maintenance and refurbishments; future increases in the price of, or major changes or reduction in, commercial airline
services; seasonal variations in passenger fare rates and occupancy levels at different times of the year; our ability to keep pace with developments in technology; amendments to our collective bargaining agreements for crew members and other employee relation issues; the continued availability of attractive port destinations; pending or threatened litigation, investigations and enforcement actions; changes involving the tax and environmental regulatory regimes in which we operate; and other factors set forth under «Risk Factors» in our most recently filed Annual Report on Form 10 - K and subsequent filings by the Company with the Securities and Exchange Commission.
The company is one of the public
services that were swiftly privatized in recent years, supposedly to help pay the
foreign debt (though the
debt is now larger than ever).
If the income for
servicing the
debt is generated from the purchased property it is not
foreign income.
Eligible Purchases means the amount of purchases of goods and
services that are charged to your HSBC Advance Mastercard ® account except for quasi-cash transactions (which include purchases of wire transfers, travelers cheques,
foreign currency, money orders, payment of an existing
debt, bets, lottery tickets and gaming chips) less any credits for returns, rebates or adjustments.
Furthermore, many credit card
debt counseling agencies offer their
services in different
foreign languages.
2Eligible purchases means the amount of purchases of goods and
services that are charged to your Account except for quasi-cash transactions (which include purchases of wire transfers, travelers cheques,
foreign currency, money orders, payment of an existing
debt, bets, lottery tickets and gaming chips) less any credits for returns, rebates or adjustments.
ANZ Philippines provides a suite of institutional banking products and
services including domestic and
foreign currency lending, trade and supply chain
services, payments and cash management,
foreign exchange, commodity and interest rate hedging products and
debt capital markets.
Business & Management Competencies Financial Modeling • Portfolio Management • Relationship Building • Forecasting • Business Development Recapitalizations • Credit Risk Management • Acquisition Financing •
Debt Financing / Structuring • Leverage Buyouts • Business / Financial Analysis • Capital Markets / Derivatives • Due Diligence •
Foreign Exchange Loan Documentation / Negotiations • Asset Securitizations • Audit / Compliance • Public Finance • Financial Planning • Profit Analysis • Compliance • Strategic Planning • Pricing Analysis • Team Leadership / Motivation Client
Services • Statistical Modeling / Trend Analysis • Market Trends • Budget Management
Such factors include, but are not limited to: the Company's ability to meet
debt service requirements, the availability and terms of financing, changes in the Company's credit rating, changes in market rates of interest and
foreign exchange rates for
foreign currencies, changes in value of investments in
foreign entities, the ability to hedge interest rate risk, risks associated with the acquisition, development, expansion, leasing and management of properties, general risks related to retail real estate, the liquidity of real estate investments, environmental liabilities, international, national, regional and local economic climates, changes in market rental rates, trends in the retail industry, relationships with anchor tenants, the inability to collect rent due to the bankruptcy or insolvency of tenants or otherwise, risks relating to joint venture properties, costs of common area maintenance, competitive market forces, risks related to international activities, insurance costs and coverage, terrorist activities, changes in economic and market conditions and maintenance of our status as a real estate investment trust.