Author:
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 41

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Author: Vassilis A. Hajivassiliou
Publisher:
ISBN:
Category : Debt equity conversion
Languages : en
Pages : 52

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Book Description
Secondary market values tend to reflect past difficulties rather than anticipate future ones. They can't be used to build a case for debt relief on the grounds that it would cause secondary discounts to fall and hence the value of outstanding debt to rise.

Author: Dr. Jürgen Kaiser
Publisher: Iucn
ISBN:
Category : Business & Economics
Languages : en
Pages : 76

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Book Description
This publication is aimed at helping IUCN's members to understand the scope and mechanisms of debt conversion and to spot opportunities for their own action in this important field.

Author: Raquel Fernandez
Publisher: World Bank Publications
ISBN:
Category : Bank loans
Languages : en
Pages : 52

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Book Description
The more concentrated the debt holdings in large money center banks, the higher the secondary price of that debt.

Author: John Wakeman-Linn
Publisher: World Bank Publications
ISBN:
Category : Debts, Public
Languages : en
Pages : 47

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Book Description
Creditors and highly indebted countries alike would benefit from a credit market in which penalties for default were heavier or more certain, in which multinational and international organizations were used to improve the flow of information about the debtor countries to possible creditors, and in which methods were designed to increase the precommitment of funds.

Author: Ishrat Husain
Publisher: World Bank Publications
ISBN: 9780821312469
Category : Business & Economics
Languages : en
Pages : 326

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Book Description
The debt crisis in perspective; Debt management in the late 1980s; Debt reduction and recontracting.

Author: Barry J. Eichengreen
Publisher: World Bank Publications
ISBN:
Category : Capital market
Languages : en
Pages : 62

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Book Description
This paper analyzes the sovereign defaults of the 1930s and their implications for the debt crisis of the 1980s. It reports nine major findings. There is little evidence that financial markets have grown more sophisticated' over time, or that banks have a comparative advantage over the bond market in processing information. (2) Debt default in the 1930s depended on a combination of factors, . including the magnitude of the external shocks, the level of debt, and: the: economic policy response, as well as on a range, of: noneconomic considerations. (3) Countries which interrupted service recovered more quickly from the Great Depression than countries which resisted default. This contrasts with the experience of the 1980s, when no clearcut relationship exists (4) There is little evidence that countries which defaulted in the 19305 suffered inferior capital market access subsequently. (S} The readjustment of defaulted debts was protracted: the analogy with Chapter 11 corporate bankruptcy proceedings is no more applicable to the 1930s than to the 1980s. (6) Although default led in some cases to a substantial reduction of transfers from debtors to creditors, on balance returns on sovereign loans compared favorably with returns on domestic investments. (7) Creditor-country governments did more in the 'thirties than in the 'eighties to accelerate the settlement process. (3) Global schemes analogous to the Baker Plan were widely proposed but never implemented. (9) In contrast, market-based debt reduction in the form G debt buybacks played a useful role in the resolution of the crisis.

Author: Mrs.Lynn Aylward
Publisher: International Monetary Fund
ISBN: 1451979894
Category : Business & Economics
Languages : en
Pages : 48

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Book Description
While the literature on external debt repayment performance by sovereign debtors is extensive, repayment performance vis-à-vis the International Monetary Fund has not been dealt with separately. Given differences between the Fund and other providers of financial resources, this paper considers whether it is possible to distinguish through logit analysis between the countries that make timely repayments to the Fund and those that become overdue. The paper finds that the inclusion of Fund-specific financial variables and a small number of macroeconomic variables yields a highly significant econometric model of the probability of a country incurring Fund arrears.

Author: Sebastian Edwards
Publisher: University of Chicago Press
ISBN: 0226184722
Category : Business & Economics
Languages : en
Pages : 366

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Book Description
The 1990s witnessed several acute currency crises among developing nations that invariably spread to other nearby at-risk countries. These episodes—in Mexico, Thailand, South Korea, Russia, and Brazil—were all exacerbated by speculative foreign investments and high-volume movements of capital in and out of those countries. Insufficient domestic controls and a sluggish international response further undermined these economies, as well as the credibility of external oversight agencies like the International Monetary Fund. This timely volume examines the correlation between volatile capital mobility, currency instability, and the threat of regional contagion, focusing particular attention on the emergent economies of Latin America, Southeast Asia, and Eastern Europe. Together these studies offer a new understanding of the empirical relationship between capital flows, international trade, and economic performance, and also afford key insights into realms of major policy concern.

Author:
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 16

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Book Description