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World Economic and Social Survey 1995

Current Trends and Policies in the World Economy

image of World Economic and Social Survey 1995

Authoritative and reliable, the Survey is a detailed assessment of the state of the world’s economic and social situation. Its forecasts for the upcoming year and lucid description of national and international economic policies, emerging issues and trends make it ideal for the international businessman or economist. Issued annually, since 1948.

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The new-era secondary market for developing and transition economy debt

In the mid-1980s, a secondary market arose in the debt owed to commercial hanks by the Governments of many developing countries in debt crisis. By the late 1980s, prices tpioted on that market became a widely cited indicator of financial market sentiment about the progress or difficulty those countries were having in emerging from their debt crises. What is called the secondary market today is a very different creature and although prices continue to reflect investor sentiment, movements in those prices reflect other factors as well (such as general interest rate levels). Moreover, even when the effect of investor sentiment can be isolated, it cannot be taken as an indicator of the underlying economic situation in the country concerned.

English

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