But, by lowering long term interest rates, central bank purchases of government debt can help contain government debt service. In this way, QE can keep solvent a government that otherwise would be insolvent a nightmare scenario for a central bank.

In addition, given that local government debt comprises 27 of China s 2010 GDP, while central government debt and policy loans stand at 20 and 6 of GDP, respectively, the total public debt to GDP ratio is approximately 53 lower than Germany s. So, while China should not be complacent about local government debt, panic is unwarranted.

Moreover, a debt reduction in the form of further interest rate reductions and maturity extensions on foreign government held debt would not hurt financial markets. But debt held by the European Central Bank and the IMF could pose a problem.

But won t an increasingly indebted government have to pay ever higher interest rates, so that debt service costs eventually consume its entire revenue? The answer is no the central bank can print enough extra money to hold down the cost of government debt.

Training programme on legal aspects of debt management (Central Asian republics)

Unlike other Latin American, Caribbean and Central American countries, Guatemala's external debt situation is stable, with normal debt servicing loads and external debt indicators in the moderate range.

Policymakers initially resorted to government spending and low interest rates to boost demand. As government debt has ballooned and policy interest rates have hit rock bottom, central banks have focused on increasingly innovative policy to boost demand.

The UNITAR training and capacity building programme in the legal aspects of debt and financial management continues to offer a broad menu of training and capacity building services intended for government officials, debt managers and central bankers from sub Saharan Africa, the Central Asian republics and Azerbaijan, as well as from selected countries in other regions.

Canada has been restructuring government spending to reduce its debt.

Because of the close linkages between external debt and the government budget, debt relief would also free resources needed for government investment in physical and social infrastructure.

A primary budget deficit (or surplus) is the difference between a government s outlays for everything excluding the interest payments that it must pay on its debt and its receipts from taxes and other charges. In the case of Greece, the interest payments apply to government debt held by Greek individuals and institutions, as well as to government debt held by the IMF, the European Central Bank, and other foreign lenders.

In Lebanon, persisting high levels of public debt forced the Government to direct much of its expenditure towards debt service.

In December 2001, the Government declared default on its external debt.

The Government is continuing to guarantee the payment of debt obligations.

The central Government has extended its powers beyond Kabul.

Training programme in legal aspects of debt and financial management (Central Asian republics and sub Saharan Africa)

Both the attacks on excessively easy central banks and the effort to limit government debt are enormously popular in Germany. But they have been widely condemned by economists worldwide (including in Germany) as nonsense.

The demand for debt repayment confronts the philosophy of debt forgiveness. In the lender s view, the 17 interest rate that Greece s government now has to pay for its 10 year bonds accurately reflects the lender s risk in buying Greek government debt.

The combination of all these factors contributed to an acceleration of government debt accumulation and made debt service difficult or impossible.

In this case there was a reaction on the part of the Uruguayan Government, which rejected the donation, and the Central Bank of Uruguay deducted the price of the vaccines from Cuba's debt to Uruguay.

The Central Government of Spain subsequently announced the full takeover of local government power in Catalonia.

Conventional monetary policy operates by altering short term interest rates, which includes the central bank buying and selling short term government debt. No intervention in the foreign exchange market buying and selling foreign currency is involved.

Another is to sell off government bonds held by the central bank in order to take money out of circulation again, just the opposite of what the Fed is now doing. Because China s government does not owe much debt to the public, the PBC sold out its holdings of government bonds in 2005.

Attempting to cure an overhang of private debt by issuing mountains of safe government debt is too dangerous. After all, when the private debt was issued, it, too, was considered safe.

7. In mid 1998 the territorial Government was approximately 600 million in debt.

In Somalia, the central government collapsed and clan warfare broke out.

Revenue transfers from central government to local authorities are one option.

Children's protection has been a central concern of the Federal Government.

This is often fuelled by unwarranted criticism from the central government.

In addition to estimating financing gaps and identifying the sources of financing (including different scenarios of debt rescheduling), DSA includes an analysis of debt dynamics to determine the stability of debt to GDP or debt to government revenue ratios.

Interest payments on the debt eventually become so burdensome that bondholders demand higher interest payments (Greek debt recently yielded over 30 ). Interest rates on US government debt remain low, so this threat is prospective, but future deficits will be far higher than government projections when rates normalize.

The Central Bank of Uruguay deducted the amount of the sale from Cuba's debt to Uruguay, while the Central Bank of Cuba did not recognize the transaction, deeming it to be a donation, so that in its view, and in its books, the debt to Uruguay remained the same.

The central efforts of my Government are aimed at decisively addressing poverty.

(ii) Contacts with central and local authorities of all branches of government

Deconcentration is a dministative decentralization, i.e. a transfer to lower level central government authorities, or to other local authorities who are upwardly accountable to the central government (Ribot 2002 in Larson).

The Social Forum calls on States to devise systems of accountability both at central and local levels, in the relationships between local and central Government, as well as within government institutions.

His Government, which was extremely interested in the question of external debt, would participate in the financing of the Heavily Indebted Poor Countries Debt Initiative.

But the European Central Bank, notably by ECB board member Lorenzo Bini Smaghi, has elegantly spelled out the case against debt reduction a case that is politically significant and deeply moral. Indeed, the principle of not reneging on public debt is deeply intertwined with the development of legal security, representative government, and modern democracy.

No Government revenues be traded or adjusted against dues or debt outside the budgetary process.

Without central bank involvement, investors panicky prophecy would be self fulfilling, with the resulting spike in borrowing costs making it impossible for the government to repay its creditors. In other words, prohibiting the central bank from acting as lender of last resort can push solvent economies into a needless debt crisis, undermining output and employment.

Today, as in the 1990 s, China is experiencing skyrocketing local government and commercial bank debt, rising fiscal and financial risk, uncertainty over institutional reform, and declining central government revenue. According to Bloomberg, Li will be the first Chinese premier not to fulfill the official annual growth target since Zhu.

Innovations can occur at all levels of government, i.e., central and local levels.

Ministry of Natural Resources and the Environment etc2.2.1. At the central government level

The central Government could intervene to resolve any difficulties at the municipal level.

We wish to see the full consolidation of authority by the central Government.