Australian Loan Council Arrangements and Experience with.pdfVIP

Inter-American Development Bank Banco Interamericano de Desarrollo Latin American Research Network Red de Centros de Investigación Research network Working paper #R-397 Australian Loan Council: Arrangements and Experience with Bailouts By Bhajan S. Grewal* *Victoria University, Melbourne November 2000 Cataloging-in-Publication data provided by the Inter-American Development Bank Felipe Herrera Library Grewal, Bhajan S. (Bhajan Singh). Australian Loan Council : arrangements and experience with bailouts / by Bhajan S. Grewal. p. cm. (Research Network working paper ; R-397) Includes bibliographical references. 1. Australian Loan Council. 2. Intergovernmental fiscal relations--Australia. 3.Fiscal policy--Australia. 4. Debts, Public--Australia. I. Inter-American Development Bank. Research Dept. II. Latin American Research Network. III. Title. IV. Series. 336.1850994 G744--dc21 82000 Inter-American Development Bank 1300 New York Avenue, N.W. Washington, D.C. 20577 The views and interpretations in this document are those of the authors and should not be attributed to the Inter-American Development Bank, or to any individual acting on its behalf. The Research Department (RES) publishes the Latin American Economic Policies Newsletter , as well as working papers and books, on diverse economic issues. To obtain a complete list of RES publications and read or download them, please visit our web site at: /res/32.htm. 2 * 1. Introduction In most countries, public borrowing by subnational governments is subj