Simple Analytics

Simple Analytics PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451980167
Category : Business & Economics
Languages : en
Pages : 42

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Book Description
This paper is concerned with debt-equity swaps in which foreign residents are a party to the exchange (i.e., it does not deal with flight capital), and with debt forgiveness. The seemingly unrelated issues of debt-equity swaps and debt forgiveness are jointly treated in this study, because debt forgiveness is in fact a special case of debt-equity swaps. Namely, it is a swap in which a positive amount of debt is exchanged for zero equity. For this reason these two problems have many common features.

Simple Analytics

Simple Analytics PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451980167
Category : Business & Economics
Languages : en
Pages : 42

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Book Description
This paper is concerned with debt-equity swaps in which foreign residents are a party to the exchange (i.e., it does not deal with flight capital), and with debt forgiveness. The seemingly unrelated issues of debt-equity swaps and debt forgiveness are jointly treated in this study, because debt forgiveness is in fact a special case of debt-equity swaps. Namely, it is a swap in which a positive amount of debt is exchanged for zero equity. For this reason these two problems have many common features.

Analysis of Self-Financed Buy-Backs and Asset Exchanges

Analysis of Self-Financed Buy-Backs and Asset Exchanges PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451977263
Category : Business & Economics
Languages : en
Pages : 9

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Book Description
buy–backs of external debt financed by the debtor through asset sales generally result in unchanged or lower market prices for remaining debt. The contractual value of debt is reduced by some multiple of the market value of assets sold. The use of assets as collateral for new debt that is exchanged for old debt has effects equivalent to buy–backs financed by sales of the same assets.

Analytical Issues in Debt

Analytical Issues in Debt PDF Author: Mr.Peter Wickham
Publisher: International Monetary Fund
ISBN: 9781557750419
Category : Business & Economics
Languages : en
Pages : 430

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Book Description
This book, edited by Jacob A. Frenkel, Michael P. Dooley, and Peter Wickham, presents a sample of the work of the IMF and that of world-renowned scholars on the analytical issues surrounding the explosion of countries with debt-servicing difficulties and describes debt initiatives and debt-reduction techniques that hold the best promise for finding a lasting solution to the problems of debtor countries.

Debt Equity Conversions

Debt Equity Conversions PDF Author: Antoine Basile
Publisher: New York : United Nations
ISBN:
Category : Business & Economics
Languages : en
Pages : 164

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Book Description
The primary purpose of this report is to provide, in a summary form, a tour d'horizon of the main issues involved in debt equity conversion programmes in order to assist the authorities of countries that may be considering the application of such progammes. The present report endevours: (a) to assess the patterns, structures and mechanisms used so far in the development of debt equity conversion programmes; (b) to set out the main challenges and issues that face indebted countries in the area of debt conversion; (c) to identify the chief advantages and disadvantages of debt equity conversion programmes from the point of view of the host country; and, (d) to provide concrete guidelines for policy-makers who are contemplating debt equity conversion programmes.

Debt Games

Debt Games PDF Author: Vinod K. Aggarwal
Publisher: Cambridge University Press
ISBN: 9780521555524
Category : Business & Economics
Languages : en
Pages : 634

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Book Description
International debt rescheduling, both in earlier epochs and our present one, has been marked by a flurry of bargaining. In this process, significant variation has emerged over time and across cases in the extent to which debtors have undertaken economic adjustment, banks or bondholders have written down debts, and creditor governments and international organizations have intervened in negotiations. Debt Games develops and applies a situational theory of bargaining to analyze the adjustment undertaken by debtors and the concessions provided by lenders in international debt rescheduling. This approach has two components: a focus on each actor's individual situation, defined by its political and economic bargaining resources, and a complementary focus on changes in their position. The model proves successful in accounting for bargaining outcomes in eighty-four percent of the sixty-one cases, which include all instances of Peruvian and Mexican debt rescheduling over the last one hundred and seventy years as well as Argentine and Brazilian rescheduling between 1982 and 1994.

Dealing with the Debt Crisis

Dealing with the Debt Crisis PDF 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.

Introduction to Development Economics

Introduction to Development Economics PDF Author: Subrata Ghatak
Publisher: Psychology Press
ISBN: 9780415097222
Category : Business & Economics
Languages : en
Pages : 488

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Book Description
The third edition of the widely usedIntroduction to Development Economicsprovides a detailed analysis of the major economic issues confronting less developed countries. Throughout, Subrata Ghatak maintains a balance between theories of economic growth and the realities of economic development. Although the basic principles remain unchanged, the past few years have witnessed changes in emphasis and the rise of new areas of interest. Such issues include development and the environment, the international debt crisis, endogenous growth, the impact of foreign aid, fiscal reforms, migration, human capital accumulation and the problems of trade liberalization. Introduction to Development Economicsis divided into four sections and is written in a straightforward style. This is a comprehensive analysis of the area, with many tables added to provide up-to-date statistical data and technical data in the appendices.

Understanding Interdependence

Understanding Interdependence PDF Author: Peter B. Kenen
Publisher: Princeton University Press
ISBN: 0691231133
Category : Business & Economics
Languages : en
Pages : 566

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Book Description
Drawing together new papers by some of today's leading figures in international economics and finance, Understanding Interdependence surveys the current state of knowledge on the international monetary system and, by implication, defines the research horizon for the future. Covering topics including the behavior of exchange rates, the choice of exchange-rate regime, current-account adjustment in classical and Keynesian models, the extent and effects of capital mobility, international debt, the stabilization and reform of the formerly planned economies, European monetary union, and international policy coordination, the book underscores the importance of these subjects and identifies lessons for policymakers. The contributors to the volume are Michael Bruno, Ralph C. Bryant, Richard N. Cooper, Michael P. Dooley, Barry Eichengreen, Stanley Fischer, Charles A. E. Goodhart, Peter Hooper, Peter B. Kenen, Paul R. Krugman, Henri Lorie, Jaime Marquez, Ronald I. McKinnon, Michael Mussa, Maurice Obstfeld, John Odling-Smee, Assaf Razin, Dani Rodrik, Mark P. Taylor, and John Williamson.

Handbook of International Economics

Handbook of International Economics PDF Author: G.M. Grossman
Publisher: Elsevier
ISBN: 0080933459
Category : Business & Economics
Languages : en
Pages : 896

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Book Description
Handbook of International Economics

IMF Staff papers

IMF Staff papers PDF Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 145194702X
Category : Business & Economics
Languages : en
Pages : 196

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Book Description
It has been argued that “buy-backs” and “debt-equity swaps” allow developing countries to benefit from market discounts on their external debt. It is argued here, however, that if such programs are expected to be successful in increasing the market value of remaining debt, they also lead to a roughly equivalent increase in prices at which a buy-back or debt-equity swap could be carried out.