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SM ISO690:2012 BUTNARU, Veronica. Impactul măsurilor de austeritate impuse de FMI în ţările care solicită ajutor economic. In: Teoria şi practica administrării publice, 24 mai 2011, Chișinău. Chișinău, Republica Moldova: Academia de Administrare Publică, 2011, pp. 162-163. ISBN 978-9975-4241-0-3.. |
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Teoria şi practica administrării publice 2011 | ||||||
Conferința "Teoria şi practica administrării publice" Chișinău, Moldova, 24 mai 2011 | ||||||
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Pag. 162-163 | ||||||
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Austerity measures are typically taken if there is a perceived threat that government cannot honor its debt liabilities. Such a situation may arise if a government has borrowed in foreign currencies which they have no right to issue or they have been legally forbidden from issuing their own currency. In such a situation banks may lose trust in government’s ability and/or willingness to pay and refuse to roll over existing debts or demand exorbitant interest rates. In such situations, inter-governmental institutions such as the International Monetary Fund (IMF) typically come in and demand austerity measures in exchange for functioning as a lender of last resort. When the IMF requires such a policy, the terms are known as „IMF conditionalities” |
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Cuvinte-cheie economics, austerity, government austerity measures, spending, deficit spending, public services, creditors. |
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