Ukraine Rail Debt Doesn't Have Cross-Default Clause, Dragon Capital Says Nov 21, 2009
The companys other external liabilities include a $700 million seven-year loan from Deutsche Bank AG arranged in October 2004, which is guaranteed by the government, and a $120 million long-term loan from the European Bank for Reconstruction and Development dating from August 2004, the report said. We dont think it can actually trigger any sovereign default because the loan does not contain any cross-default covenants, Olga Slyvynaksa, a fixed-income analyst at Dragon, said in phone... (Bloomberg -- Europe)
Press Release: Growth to Slow Sharply in the Caucasus and Central Asia Region, IMF Says Mar 6, 2009
The large depreciation of the Russian ruble has put pressure on regional currencies, and participants noted that countries are faced with the challenge of maintaining competitiveness while ensuring stability in financial sectors with large external liabilities and foreign currency loans to unhedged borrowers. Country authorities in the region have been proactive in addressing the consequences of the crisis, but participants agreed that further policy actions would be needed to support growth and... (IMF News)
Bank of Japan looks to boost credit Feb 19, 2009
The Finance Ministry also tried to play down concerns over debts, saying external liabilities had declined by about $40 billion in the fourth quarter of 2008, standing at 43 percent of gross domestic product, lower than levels in advanced economies. The head of the Chinese central bank's research department, Zhang Jianhua, said in a speech at a financial forum that restructuring the world's third-biggest economy was now more important than cutting interest rates. (International Herald Tribune)
Further trials in store for the struggling euro Feb 16, 2009
Data from the Bank for International Settlements shows that East European banks had accumulated total external liabilities to banks that report to it of $1. 657 trillion as of last September, of which $1. (International Herald Tribune -- Business)
Britain's fallen star Feb 15, 2009
And although Britain has exceptionally high external liabilities, thanks to the City s status as the world s biggest international financial centre, it also has very large foreign assets. The gap between the two peaked at the end of 2006, when Britain owed 370 billion 28% of GDP more than it owned. (The Economist)
