A Noteon Burden Sharing Among Creditors /

This paper presents a framework for evaluating the relative contributions of different creditors in cases where only partial payments can be made by the debtor country. A methodology is developed to calculate partial payments-or alternatively put-determine residual financing. By focusing on the rela...

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Автор: Dooley, Michael
Інші автори: Haas, Richard, Symansky, Steven
Формат: Журнал
Мова:English
Опубліковано: Washington, D.C. : International Monetary Fund, 1992.
Серія:IMF Working Papers; Working Paper ; No. 1992/021
Онлайн доступ:Full text available on IMF
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100 1 |a Dooley, Michael. 
245 1 2 |a A Noteon Burden Sharing Among Creditors /  |c Michael Dooley, Richard Haas, Steven Symansky. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 1992. 
300 |a 1 online resource (28 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper presents a framework for evaluating the relative contributions of different creditors in cases where only partial payments can be made by the debtor country. A methodology is developed to calculate partial payments-or alternatively put-determine residual financing. By focusing on the relative seniority of creditors and expectations of the debtor's ability to repay, alternative sharing rules are quantified. The measure is based on the expected present value of payments. Creditors earning a below-market rate of return suffer a burden; creditors earning the same rate of return are said to share the burden equally. 
538 |a Mode of access: Internet 
700 1 |a Haas, Richard. 
700 1 |a Symansky, Steven. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1992/021 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1992/021/001.1992.issue-021-en.xml  |z IMF e-Library