WAYS FOR APPEAL OF EXTERNAL PROTECTION AND RISK OF DEFOLT: GLOBAL EXPERIENCE
Journal Title: Економіка та суспільство - Year 2018, Vol 14, Issue
Abstract
The article analyzes ways of repaying external debt and minimizing the risks of default by the example of the developed countries of the world (Japan, France, Greece, Ireland), as well as developing countries – Mexico and Argentina. Strategic priorities of settlements with external debts and standard monetary recommendations, provided to debtor countries to reduce external debt, have been determined. Particular attention is paid to the risks of "technical" and "full" default, their social and economic consequences for the country. The expected socio-economic consequences of the country's exit from the default state and repayment of external debt are considered on the basis of the application of the policy of "tightening the belts". It is reasonable to prioritize the country's compliance with national economic interests in the process of repaying foreign debts on the basis of increasing exports and stimulating national production.
Authors and Affiliations
S. O. Bila, O. T. Levchenko
Keywords
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