Your English writing platform
Discover LudwigExact(5)
South Korea is, for example, considering imposing a levy on banks' foreign currency liabilities.
Numerous emerging markets have found, contrary to modern monetary theory, that they could not print money to cover even their domestic currency liabilities.
However, an increase in foreign currency liabilities could imply a currency mismatch for Swiss banks.
The central bank has also set high reserve requirements on foreign currency liabilities as a prudential tool to mitigate liquidity and foreign currency credit risk.
Countries with large current account deficit and/or large fiscal deficits and with large short term foreign currency liabilities and borrowings have been the most fragile.
Similar(55)
A currency liability has arisen because the Swiss franc has risen strongly against the pound.
Unexpected devaluations left banks and companies with short-term foreign-currency liabilities they could not support.
This resulted in a continuous spiral of currency depreciation that dramatically increased the real burden of the foreign-currency liabilities.
This makes them more like capital controls since most foreign-currency liabilities are likely to be owed to foreigners.
Pension reform has led to the creation of funds that are flush with cash and need assets to match their long-term, local-currency liabilities.
And if borrowers sought to get around this by acquiring new contingent foreign-currency liabilities, these would themselves be subject to the UDROP requirement.Doubtless the idea raises a host of other questions (including some not addressed in the paper).
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com