Faktor-Faktor Penyebab Utang Luar Negeri dan Dampaknya Terhadap Pertumbuhan Ekonomi Indonesia

This research aims to examine and analyze the effect of government spending, exchange rate, and Debtor economic growth on Indonesia's foreign debt, as well as the impact of external debt on economic growth. The tools of the analysis in this research used multiple linear regression method and use test (t-test and F-test). The result of study indicated government expenditures have a significant effect on foreign debt while debtor country exchange rate and economic growth have no significant effect on external debt. Simultaneously government spending, debt country, exchange rate and economic growth significantly affected Indonesia's foreign debt in 2001-2017. Meanwhile, foreign debt has significant effect on economic growth in Indonesia in 2001-2017.

POLITISASI KONSTITUSI PIUTANG NEGARA DI INDONESIA

One example of the problems in the state's claim is BLBI extended by Bank Indonesia to the national banking system, which has become the state's claim, but not resolved through PUPN, but further right to claim the government handed over to IBRA established by Presidential Decree No. 27 of 1998 . Since handed over to the government the right to collect BI, BI ended authority to withdraw BLBI of the receiving bank, resolved through non-litigation and mechanisms and the solution was not to use repressive laws. Receivables BLBI state is a case of default the unusually large number (extraordinary default), but penyelesaianya by IBRA implemented with the exclusion of the legal principles of the settlement of accounts receivable against the debtor country BLBI receiver, so in this case the journey is also a cost for settling disputes outstanding a big. This paper would like to see how the practice of politicizing the constitution that happens particularly with respect to issues of State receivables.AbstrakSalah satu contoh kasus persoalan dalam piutang negara adalah kasus BLBI yang disalurkan oleh Bank Indonesia kepada perbankan nasional, yang sudah menjadi piutang negara, namun tidak diselesaikan melalui PUPN, akan tetapi selanjutnya hak tagih tersebut diserahkan pemerintah kepada BPPN yang dibentuk berdasarkan Keppres Nomor 27 Tahun 1998. Sejak diserahkan hak tagih BI kepada pemerintah, berakhirlah wewenang BI untuk menarik kembali BLBI dari bank penerima, diselesaikan melalui jalur dan mekanisme non-litigasidan penyelesaiannya pun tidak menggunakan hukum represif. Piutang negara BLBI adalah kasus gagal bayar yang jumlahnya luar biasa besar (extraordinary default), akan tetapi penyelesaianya oleh BPPN dilaksanakan dengan mengesampingkan prinsip-prinsip hukum penyelesaian piutang negara terhadap debitur penerima BLBI, sehingga dalam perjalanannya kasus ini juga menelan biaya penyelesaian perkara yang luar biasa besar. Tulisan ini ingin melihat bagaimana praktek politisasi konstitusi itu terjadi khususnya terkait dengan masalah piutang Negara.

The Defeat of the Athens Spring

This chapter considers the short-lived standoff between Syriza and the Troika in the first half of 2015. It asks: why did the Syriza-led government not simply suspend payments and pursue an aggressive debt restructuring, as Argentina had in the wake of its own anti-austerity revolt in December 2001? The standoff presents a unique test of the structural power hypothesis because it concerns a case in which the stated preferences of foreign lenders visibly clashed with the stated preferences of the debtor country. The chapter argues that the ultimate reasons for Greece's continued compliance in 2015 must be sought in a combination of two factors: first, the extremely hostile response and overwhelming structural power of the country's foreign lenders; and second, the internal divisions within the Syriza government, which gradually led to a reassertion of the third enforcement mechanism of internalized debtor discipline following its partial and temporary breakdown after Syriza's ascent to government.

Determinants of Debt Rescheduling in Pakistan

Pakistan’s total debt has reached to 115 percent of GDP in 2001 [Pakistan (2001)]; per capita debt exceeded per capita GDP. The outstanding stock of public debt was roughly 400 percent of government revenue in 1980 and it increased to 624 percent by mid-2000 [Pakistan (2001)]. It is the only country in South Asia, classified as “severely indebted low-income country” by the World Bank (2001). Debt servicing is more problematic than debt. It has been 2.5 percent of GNP during seventies and increased to 3.5 percent of GNP during eighties. In 2001, debt servicing consumes more than seventy percent government revenue and leaves less than thirty percent for every thing else [The News (2001)]. This increase in debt and debt servicing has affected creditworthiness of the country and raised the concern about its future growth prospects. The deterioration in all the indicators, like debtexport ratio, debt-GDP ratio, debt servicing to GDP ratio etc. raised the risk of default and increased vulnerability of the country to external and internal shocks. One possible way out is the rescheduling of debt to minimise total loss to creditor countries as well as subside the burden of debtor country. Pakistan’s debt has been rescheduled many times during the last thirty years.

Les cadres juridiques de la capitalisation des dettes commerciales des États

SommaireDebt-equity swaps have been a technique used to cope with developing countries’ debt crisis. This type of operation involves various legal techniques. Thus, the national regulation of the creditor institution has an impact on the degree and nature of its participation in debt-equity swaps. These operations should not conflict with the provisions of the syndicated loan or the debt-restructuring agreement. As well, the financial transaction should reflect the constraints inherent in the legal rules governing secondary markets as well as those related to the regulatory scheme set up by the debtor country. This article describes the various legal techniques and shows that international co-operation is necessary to optimize use of debtequity swaps in a strategy aimed at reduction of developing countries’ debt and at their economic growth.