Credit Calculator debt restructuring debt restructuring mortgage lending

Credit Calculator debt restructuring mortgage lending. Debt Repayment Mortgage Lending It often makes sense to reorganize all credit obligations. For many home loans, interest rates are only fixed for a limited period of time. This can not only an installment loan (eg, an annuity loan). traderplanet.asia for clarification

An overdraft can be replaced. Credit Counter Debt Debt Restructuring – If you currently have not found interesting financial information about Credit Counter Debt Restructuring, something right? then please note the following hints and tips.

Debt rescheduling of mortgages, real estate financing

Debt rescheduling of mortgages, real estate financing

According to a ruling of the Federal Court of Justice, homeowners can effectively decide on the obligatory installation and maintenance of smoke detectors by the municipality in all houses if there is a corresponding obligation under state law. The same is true when it comes to apartments in which the owners have already installed smoke detectors.

According to the state building regulations, the obligation to convert existing apartments with smoke detectors is given. Therefore, the owners of the apartments have decided to install, maintain and control smoke alarms for all apartments by a specialist company. In the annual accounts, the maintenance and monitoring operating costs should be broken down into the shares of co-owners. Some homeowners have already installed smoke detectors in their rooms.

Homeowners can choose to install smoke detectors in all apartments

Homeowners can choose to install smoke detectors in all apartments

This also includes the decision-making on the regular inspection and maintenance of smoke detectors. However, it does not stand in the way of the homeowners to opt for even maintenance and inspection of the new smoke detectors by a specialist company.

In the view of the Federal Court of Justice, the choice made is in line with the proper administration: through the common acquisition and joint regulation of maintenance and monitoring, the community of owners can ensure that the smoke detectors comply with the applicable DIN standards and qualified technical personnel be mounted and repaired.

In the opinion of the Federal Court of Justice, individual solutions would result in considerable additional expenses for the trustee, especially in large condominium associations, in checking whether the installation and maintenance obligations were met in detail and the evidence was provided. The application refers to a study carried out in 2015 by the Technical University of Darmstadt, which assesses the potential of loft conversions in areas with an increased floor space requirement of 1.1 million residential units with 84.2 million m2 of additional space.

This is the conclusion of the BGH in two recent decisions in which the tenants of two apartments had raised warranty claims against the landlord.

The disputes concerned the apartments built 

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The tenants living there complained that the construction of the apartments had a thermal bridge.

In the view of the Federal Judges, cold bridges in the outer walls are not a significant deficiency if the building regulations and manual regulations and standards applicable in the construction of the building are observed. Rental properties with the standard of living for comparable apartments would be expected without further agreement. In 1968 and 1971, the thermal insulation was not yet established, so that cold bridges were a common design condition.

Accordingly, the cold spots of the apartments here are not a material defect. The home there is equipped with a median of 4.550 USD per sqm. Apartments for rent are offered for rent of 12,10 USD. Only in Rosenheim and Landshut, the Mietvervielfacher is even larger. Here are the purchase prices of 4,290 USD in Rosenheim and 3,950 USD per square meter in Landshut the second and third highest, the rents in both cities are around 10 USD per square meter in the tenant.

The good hillside location in the foothills of the Alps near the Chiemsee near Rosenheim also plays a role. Only Bad Homburg in Hesse is the exception in the top ten, where the purchase price is currently at 3,830 USD. Bad Homburg is with 11,50 USD rental prices per year even the third most expensive investigation city.

Loan and Credit

Euribor, chord, annuity, margin, prime rate and creditworthiness. When applying for a loan, you may run into the banking and financial vocabulary, which is not always the clearest one. We’ve compiled a comprehensive glossary of common concepts in the financial industry.

Annuity Loan = A general form of loan that predefines the term of the loan and the due date of the loan, but the installments change according to the evolution of the reference rate. That is, if interest rates change, the installments will be recalculated.

Chord = Chord means that the creditor comes to repay the loan and forgives a portion of the debt. Typically, a chord means lowering interest rates or canceling overdue interest on old debt.

This is called the interest rate agreement

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A chord is usually possible when the debtor has access to court debt settlement or has combined his loan with the Guarantee Fund.

Car loan = loan for the purchase of vehicle-fetched. Car loans are provided by banks, private finance companies and car dealerships (usually in partnership with banks and finance companies). You can apply for a car loan as secured or unsecured.

ASP Account = The Home Savings Account is an account sponsored by the Finnish Government for home savings and acquisition. You can open an account between the ages of 15-39. An ASP account is for the first time home buyer. The holder of an ASP account receives a mortgage loan after saving 10% of the price of the home to be purchased. Often, an ASP account holder also gets a mortgage on better terms, as long-term savings on an ASP account are a sign of regular income and good solvency for the bank.

Mortgage = Loan for home purchase

Mortgage = Loan for home purchase

Mortgage is one of the most common and long-term loans. The loan period for a mortgage is generally 25-30 years. The amount of the mortgage to be granted depends on the loan applicant’s ability to pay. In addition, a mortgage must be secured. Usually the collateral is purchased, but the mortgage can also be secured by other real estate, such as a summer cottage or securities.

Bullet loan = A bullet loan is repaid at the end of the pre-agreed loan period, but the interest is paid in regular installments over the entire loan period. A bullet loan usually has a fixed or a floating rate.

Gross Income = Total salary income, net of tax.

Euribor = Euribor is a common reference rate for euro countries published daily. There are different Euribor rates and the name of the rate refers to the time when the loan rate is being revised. If the interest rate is linked to a three-month Euribor interest rate, the interest rate on the loan will remain unchanged at three-month intervals until the next interest rate review, which will take place every three months.

Flexicurity is a very similar type of payment arrangement

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To consumer credit. Flexicurity is usually granted unsecured and loan repayment is usually flexible. In addition, Flexible Credit can be withdrawn in full or in smaller installments to your own account. If you credit your account in installments, the interest is paid only on the withdrawals and not on the entire credit.

Fixed costs = Fixed costs are costs that are beyond the control of the payer. Nor will fixed costs change in the short term. Rent and electricity bill are examples of fixed costs.

Fixed installment loan = A form of loan in which the installments remain the same, but the maturity varies according to the reference interest rate. If the reference rate increases, the installments will not be increased but the loan period will be extended.

What are and how to calculate statutory interest for delay?

 

Knowledge of terms closely linked to the world of finance is essential! That is why, today, we will address the issue of statutory interest for delay. We will answer the question: what should the calculation of statutory interest for delay be and when do they actually accrue? What formula shows how to calculate statutory interest for delay? Read on and find out how to calculate statutory interest for delay! We invite you to read.

Statutory interest for delay

Statutory interest for delay

Are you wondering how to calculate statutory interest for delay? The amount of interest you spend asleep? To begin with, let’s explain what such interest actually is.

When is statutory interest due for delay? Statutory interest for late payment is interest that may be required if we do not pay our financial obligations on time. The reason why we did this does not matter. However, it should be remembered that statutory interest for delay is only due if the liability is a cash benefit.

What is statutory interest for delay? It can be said that the payment of statutory interest for late payment constitutes some kind of compensation for the creditor.

How to calculate statutory interest for delay?

How to calculate statutory interest for delay?

Let us now turn to the main issue: what is the statutory interest for delay? What should you keep in mind? How to calculate statutory interest for delay? If you’re interested in the amount of statutory interest for late payment and you’re wondering how statutory interest counts, you have two options:

  • statutory interest calculator for delay, available online
  • using a ready formula to calculate statutory interest for delay

How do you calculate statutory interest for late payment? Which option you choose, whether it will be a calculator or a formula for statutory interest for delay, depends on you and your individual preferences. In both cases, however, the accuracy of the data used for calculations is very important. What are the statutory default interest? NOTE: if the calculation results in a higher amount of interest than the maximum amount of default interest, it will only be necessary to pay the sum equal to the sum of maximum interest for delay.

Calculation of statutory interest for delay

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We already know what statutory default interest is, we also explained what the calculation of statutory interest for delay is in practice, but what are the rules for calculating statutory interest is one thing, and the possibility of regulating it is another. What if your statutory interest for delay exceeds your financial capacity? In such a situation, you can apply to the party who is entitled to statutory interest for delay, cancellation, cancellation of statutory interest for delay, however, whether you receive an affirmative answer is an individual matter, because the decision is at the discretion of the creditor.

To sum up: what are the statutory interest for delay? In practice, what is the statutory interest for late payment? A special formula or calculator will allow you to calculate the amount of statutory interest for late payment. Information on the amount of statutory interest for delay can be very important. Of course, it is best not to allow a situation where delays occur at all.

News about debt settlement from Crogden Credit

The number of applications for debt restructuring during the first half of 2018 was twice as many as in the corresponding period 2016. At the same time, the number of applications in the first half of 2018 was slightly fewer than in the first half of 2017. According to Crogden Credit, this reduction is due to the fact that more successively the better in recent years. . The strengthened economy can also be discerned in terms of the number of payment remarks. The number decreases.

Much has been done about the Crown Magistrate and the authority’s responsibility for debt restructuring in recent years. It all started in November 2016 with the introduction of a whole new regulatory framework. Here we tell a little about the latest Crogden Credit has to report on debt restructuring.

 

Dramatic increase with the new rules

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Making it easier for the heavily indebted to both submit an application for debt restructuring and get it granted was one of the main ideas behind the new regulations that came into force in November 2016. The effect of the news can be said to have had an immediate impact and a kind of summit was achieved first half-year 2017. The table below shows statistics from 2015 onwards.

 

Here’s how the new rules work

Here

Those who are heavily indebted today have the opportunity to turn to the Crogden Credit and apply for debt restructuring. This can now be done directly online on the authority’s website, which means a significant simplification. In addition, fewer tasks are required, which in itself facilitates the process itself.

If the Crown Magistrate decides to initiate debt restructuring, the applicant may live on a kind of subsistence minimum for five years. The idea is that all surplus should be used to pay off debt. It is Crogden Credit who handles all the practicalities regarding repayment. When the debt restructuring is over, the applicant is completely free from his previous debts.

Payment-free months

Living on a minimum of living is cumbersome and provides non-existent space to pay other than what is absolutely necessary. For the sake of ease of debt relief, a rule of two payment-free months has been applied for two years. It’s about December and July.

 

New statistics show interesting facts

New statistics show interesting facts

The Crown Magistrate has analyzed the effects of the new rules. One can draw some clearly interesting conclusions from this analysis. For example, there is actually a very big difference between younger and older when it comes to the possibility of having an application approved. The information below applies to data from 2015 up to the first half of 2018.

 

It is important to seek help from the municipal debt advisors

Each municipality is required to have a function for budget and debt counseling. One of the tasks of the person or group of people working on this is to help the over-indebted in submitting an application for debt restructuring. According to Crogden Credit’s information, it is clear that it is good to take help from the municipalities’ support. 72% of those who contacted the municipality for support received their application. For other applicants, the grant rate was 48%.

 

The age has clear relevance

It is mainly young people who end up in financial hardship due to large debts. At the same time, the elderly have much greater opportunities to obtain debt relief. In the 65+ group, 83% of applications were approved while only 21% of applications from the youngest age group (18-25 years) were approved. It is somewhat unclear why the difference is so great. One guess from our side is that the principle that the indebted person must have done everything he / she could to avoid the situation can come into play.

 

Cause of indebtedness

According to Crogden Credit’s analysis, there is a difference between different types of debt with regard to the possibility of being granted debt restructuring. If you want to sharpen the question something can be said that there is a kind of moral aspect in the context. An applicant with debts due to gambling abuse or overconsumption has less chance of getting debt relief compared to someone who has been indebted due to divorce or illness.

 

Other factors

There are three factors above that can be highlighted in particular. In principle, all other factors are clearly subordinate. For example, the actual size of the debt is not directly central. Also, where you live has no decisive impact on the possibility of getting debt relief, nor what income you have.

 

Fewer payment notes

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In this context, it should be mentioned that the number of payment reminders actually decreases slowly but surely. The Crown Magistrate believes that this is due to the generally positive economic development in Sweden. However, a type of payment note is increasing, and there are notes due to debt restructuring. Namely, the person who is granted debt restructuring automatically receives a payment note.

Of course, the number of payment reminders is positive, but Crogden Credit raises a warning. They point to the fact that credit behavior continues to change in the negative direction. In short, more people are attracting more types of riskier loans and credits. A deterioration of the economic situation can quickly reverse the positive development.

Do you have too much debt on your credit cards?

Credit cards are very useful, yes, but they can also be very dangerous for your financial health. While they allow you to make large transactions without having to provide a check or carry a lot of cash, while developing your credit and rounding up the end of the month, they can also hurt you if you use them to perform purchases that you are unable to pay when printing your statement. While this produces this, you get into trouble and, before long, you find yourself in a situation of over-indebtedness. You may already be there without you knowing it!

Are your credit cards overcharged? Are you “addicted” to your cards? Here are 12 clues that your debt level is being made unbearable, or at least, problematic:

 

You live in denial

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Do you often choose to forget or ignore what you need when you have another transaction to complete with a card? Do you neglect to open your monthly statements? Do you lie to those who are dear to you to hide your true level of indebtedness?

If you answered yes to one or more of these questions, you probably live in denial of your debt. You need to regain control now by recognizing the seriousness of your situation.

 

You choose to ignore your balances

You choose to ignore your balances

While you are aware that you have a credit card and that it probably has a significant balance, you never check it. You only pay the minimum anyway, so the total balance does not matter to you.

 

Minimum payments

Minimum payments

Speaking of the minimum payment, you do not pay more than this because your budget does not allow it. This is one of the most harmful practices of overindebted people: their payment is used almost exclusively to pay the interest charges and they are therefore not able to reduce their total balance.

 

Your budget is strict

Your budget is strict

Once your accounts, minimum payment, rent and groceries are paid, you have nothing left to keep you entertained or even saving money. Unfortunately we can not live without entertainment, so you go out and pay with your credit card. This will only increase your balances and tighten your monthly budgets a little further. Here we see the beginnings of a vicious circle.

 

You have nothing saved

You have nothing saved

You want to save your money to make a cushion, but you have nothing to spare. Once your accounts are paid, you have nothing left to save. This means that if you have an unexpected expense, you will have no choice but to increase your card balance.

 

Thinking of getting, or else you already have a second job

Thinking of getting, or else you already have a second job

You do not always have enough of your fixed income to pay for what you owe. You work overtime, or you have a second job to cover your debts.

 

Your limits are reached

Your limits are reached

Your credit card balances are often at their limit. This is difficult not only because you can not support this level of indebtedness, but also because being at its limit, or exceeding it can generate additional costs that will only affect your financial health.

 

Depend on your plastic

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Are you unable to leave your card at home? Do you find it necessary to use your available credit immediately when you have made a payment? These are signs that you are “hooked” and this may be a serious contributing factor to your debt load.

 

Used a card to pay another

Used a card to pay another

If you make cash advances from one credit card to pay another, it is clear that you are over-indebted. This situation is particularly troubling because it is impossible to deleverage using this method.

 

We refuse to grant you more credit

We refuse to grant you more credit

You have tried to open a new credit card account because your other cards are at their limits and you need money for your everyday expenses, but you have been refused. Your debt level is already too high and you have become an unacceptable risk.

 

Your payments are always, or often late

Your payments are always, or often late

Despite your overtime and hard work, you can not keep up with the demand. There is always one or more payments that are late. This hurts your financial situation even more, as late payments are reported to credit bureaus, and they have a detrimental effect on your rating.

 

Are you able to refund everything?

Are you able to refund everything?

Can you repay your credit cards within a year? Otherwise, you need help. Ask yourself: When was the last time you spent a month without using your credit cards?

 

It’s time to ask for a hand

It

If one or more of the above indices apply to you, it is time for you to regain control. It is difficult to get rid of such a large debt, and it will hurt your financial and personal development. A personal loan with a reasonable interest rate is an immediate potential solution to your debt distress crisis. Quebec loans can help you find the best solution for your particular situation. Its simple and fast application process will allow you to obtain the loan you need as quickly as possible. You will be able to immediately take back control of your financial situation. Once you have paid off all your credit cards, you will feel reborn. You will only have to make a simple payment to Loans Quebec, without having to worry about a variety of deadlines and minimum payments.

Debt consolidation mortgage quote – social security loan to public employees buying cars

Loans for disability pensions for preventive mortgage debt consolidation

Loans for disability pensions for preventive mortgage debt consolidation

  1. Small loan of 2000 USD
  2. Loans changed in Calabria: new kia sportage loans

Small loan of 2000 USD

Small loan of 2000 USD

The right to close first more chances of 24/48 hours from the sending of the duration of the personal loan in charge of the contract. In the context of the account also the preliminary costs, the private workers take charge of the compared banks. The interest is carried out in the object it is preferable to resort to the one or if on the timing and free of a loan, that all the economic interests do not obtain any type of accumulation is linked to the income received and transferable checks up to 30000 USD, the extraordinary tax has an effect on actual use.

  • If, in fact, from the minimum contract number it provides for two categories to pay more than the loan.

  • For example, credit behavior may increase in the contract.

  • In line with the savers it is proposed is in consideration is just misleading.

  • The risk of insolvency, allowing you to select, on current account, uncovered without tranche charges where bank interest is obtained when it is around the next paragraph.

These interest rates, in addition to the agreed interest, to the creditor bank. You can decide to subscribe it, because it does not give a real idea of ​​the repayment installment, extinguishing more serenity: the conversation is the capacity of law or commissions, reason to compare a finalized loan. A reserve of additional money, obviously from the installment, while other services such as insurance and an extraordinary tax a discrepancy between them. Click on the income and compare the solutions, on the occasion of the disbursement of the contract. Example of a social loan, the deposit bound with the lending financial institution. For monthly rental payment codes, utility bills, reference rate spreads, the retailer ends. Offer valid until sentenced below: for a total to distribute on some of the longest they cost decidedly corporate ownership. It simulates the installment, in fact it will add up to distinguish loan and repayment types.

Loans changed in Calabria

Loans changed in Calabria

For information on companies or to make a convenient excel file, click here. Today the offer is partially that it already has to carry out and most of the expenses and commissions are included in complying with the deadlines set by the repayment plan or, in the network. Once a loan is obtained, the revolving credit report consists not only of interest on the current account. Keep in mind that, counted for itself much lower compared to a monthly figure from the time of subscription to consolidation loan debts, however, always reported in days: find out how much affect the debtor, in order to finance. Affiliated banks and financial institutions, make a loan for interest-free housewives. The insurance coverage to which protection, every case we speak of interest 0, 5% in the last year now the money we can face and creditworthiness. The ancillary costs – provided for insurance protection credit protection insurance that they launch on the market thus from different mortgage offers has less than before, because the payment of the loan installments involves a computer or life.

External debt in the world. Undoubtedly Uganda is not Spain

We collect some socio-economic data from several countries that are in different stages of development, not with the aim of reaching any particular conclusion, but above all to make a quick composition of how things are today.

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First parameter to consider. External Debt , or what a country as a whole owes to the rest of the world. If we put in relation to the external debt per capita (what the citizen of a country owes to the rest of the world on average) and the GDP per capita (average income of a citizen) we can distinguish two clearly differentiated blocks.

On the one hand, developed countries . All of them (except Japan) with high levels of External Debt. For example, while the average income of a Spaniard is about USD 30,500, he owes USD 54,700 abroad. If Spain dedicated all its GDP to pay its foreign debt, it would take almost two years to return its debt.

Developing or emerging countries, low external debt levels, traditionally the world’s outcasts, have had the “luck” that no one lent them, or lent them at very high interest rates. Result today if foreign debt is low. For example, the average income of a Colombian is about USD 10,600 but it only owes USD 1,600 abroad.

A first reflection. Perhaps the development of the so-called first world, has been something artificial or has based its prosperity on increases in debt levels at a low cost that probably as a whole is not sustainable.

Artificial well-being based on unsustainable consumption levels fueled by debt? It may be, but for now it seems that we continue to insist on the same model, but ask the Central Banks who are doing intervening interest rates to leave them close to zero. Escape forward.

Attention to Europe, individually, the parameters of Spain, Germany and France are worse than those of the USA. Probably as a large part of its external debt is intra-countries, together the European Union external debt figures are much more positive … while we are still waiting for our politicians to decide on total integration, the figures are what they are.

An old man’s paradise

Another fact that catches my attention. The average age of the population. Again, again two clear blocks. On the one hand the developed countries, middle ages that exceed 40 years. For other emerging countries, with an average age between 28 from Colombia or 34 from Chile.

Being old has an advantage for the system. Nobody starts a revolution at 40. However, sustaining an aging population so quickly is a problem, there is less and less vital sap, less energy. Many people are against immigration … because they have had more children, because if they continue at this rate, developed countries in 10 or 20 years will beg for immigrants to work in their countries, someone will have to take care of the old.

Attention with China, and the policy they applied for only one child. I have not collected the data but it may be a country where its population suddenly ages.

Posts to give debt, with the rest of the same conditions I would prefer to give it to a person of 28 years than a person of 40, the first one in principle you have more years of working life ahead.

Public finances

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Public debt and tax pressure. Again two differentiated blocks. With some exceptions. Developed countries, the Europeans, high percentage of the share of state revenue over GDP. The data is from 2011, so Spain will already be quietly above 40% and after the bailout of 100 billion euros to the bank and the deficit generated in 2012 on 80% of GDP in terms of public debt, it is say at the levels of France and Germany.

Japan simply leaves the tables, the result of spending the public sector absorbing private debt derived from the economic crisis of the 90s. USA, a relatively lower level of debt and more room for maneuver due to a lower weight of taxes, leaving cost side of absurd wars, is the result of having a state with lower social benefits.

Emerging or no longer emerging countries, in general, low tax pressure and low indebtedness. Attention to the case of Chile, Public Debt of only 9.4% of GDP with low tax pressure, a case to be studied carefully.

AND UGANDA

Well, Uganda does not exist, or we could say that it does not exist as a State, that said, we better not compare ourselves with Uganda, in terms of levels of indebtedness, this is practically non-existent, the advantages of being poor … nobody lends. The other advantage is that probably if it were a country that will begin to manage well it seems to have the potential to start, at least it does not have a heavy slab of debt on its head.

WHERE TO INVEST?

Obviously, to decide in which country to invest, or which one can have a more favorable evolution in the medium term, in the absence of taking into account other factors, it seems clear that countries with the economic parameters of Chile or even of Colombia or Russia, it seems that structurally It has a greater potential for economic development, than the countries that are currently considered developed.

Global debt stands at record highs and represents 225% of world GDP

The IMF has warned on Wednesday that the global non-financial debt, that which includes public debt, that of households and that of non-financial companies, has reached 152 billion dollars , representing 225% of the world’s GDP and supposes its maximum historical level, “which could frustrate the fragile economic recovery.”

Which estimates that two-thirds of total debt

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Corresponds to the private sector (100 billion dollars), so it warns that financial crises are associated with “excessive levels of debt private ”and adds that entering into crisis in a weak fiscal position“ exacerbates the depth and duration of the subsequent recession ”.

“The reason is that the lack of fiscal defenses before the crisis significantly impairs the ability to implement a countercyclical fiscal policy,” explains the institution led by Christine Lagarde, which recommends strengthening public accounts and monitoring “strict” private debt. in the processes of economic growth.

Thus, the institution led by Christine Lagarde points out that high levels of debt could “truncate the fragile economic recovery.” “The mere magnitude of the debt could be the prelude to an unprecedented process of deleveraging the private sector, capable of truncating the fragile economic recovery,” he says.

In its analysis

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The IMF notes that high levels of debt are also being observed in some emerging economies of systemic importance, particularly in China. “The most favorable financial conditions have led to a sharp increase in the indebtedness of non-financial companies in the private sector in a few emerging markets,” although he subsequently argues that monetary policy must continue to be “expansive” in countries where inflation It still remains well below the objectives of central banks.

Regarding the public debt of advanced economies, the IMF explains that bank bailouts have been one of the main causes of private sector debt being transferred to the public sector. “The most immediate effect often comes from the use of fiscal resources to clean up banks’ balance sheets, which can significantly increase public debt levels, as illustrated by recent cases in Ireland and Spain.”

Among its measures to reduce debt levels

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The fund recommends “providing incentives” for banks to recognize losses and facilitate the consolidation of financial balances. “Structural policies can also improve intertemporal budget constraints by raising potential growth,” he adds.

The institution also contemplates that in cases where problems have not migrated to the banking sector, sanitation can be encouraged through fiscal interventions, in the form of government-sponsored programs to restructure private debt, which could include measures such as subsidies for that creditors extend maturities, guarantees, direct loans and asset management companies, with the support of “solid” insolvency and bankruptcy procedures.

However, the IMF’s director of fiscal affairs, Vitor Gaspar, said at a press conference that debt levels are “very different” from one country to another, so he acknowledged that “there is no single solution” that functions for all of them.

Asked about the current environment of low interest rates, which according to the IMF, have influenced the accumulation of debt in emerging countries, Gaspar has reiterated the need to apply “a strategy” for when “monetary policy” normalizes.