Considerations in the Choice of the Appropriate Discount Rate for Evaluating Sovereign Debt Restructurings /

Assessments regarding the effectiveness of sovereign debt restructurings are often summarized by comparisons of the net present value of debt service before and after the restructuring. These calculations are inherently sensitive to the choice of discount rate. This paper explores issues that arise...

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מחבר ראשי: Kozack, Julie
פורמט: כתב-עת
שפה:English
יצא לאור: Washington, D.C. : International Monetary Fund, 2005.
סדרה:IMF Policy Discussion Papers; Policy Discussion Paper ; No. 2005/009
גישה מקוונת:Full text available on IMF
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245 1 0 |a Considerations in the Choice of the Appropriate Discount Rate for Evaluating Sovereign Debt Restructurings /  |c Julie Kozack. 
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300 |a 1 online resource (29 pages) 
490 1 |a IMF Policy Discussion Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
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520 3 |a Assessments regarding the effectiveness of sovereign debt restructurings are often summarized by comparisons of the net present value of debt service before and after the restructuring. These calculations are inherently sensitive to the choice of discount rate. This paper explores issues that arise in selecting discount rates when evaluating sovereign debt restructurings. It suggests using a range of discount rates and centering the analysis around the internal rate of return to assess whether the debt restructuring has generated net present value savings or costs to the debtor. 
538 |a Mode of access: Internet 
830 0 |a IMF Policy Discussion Papers; Policy Discussion Paper ;  |v No. 2005/009 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/003/2005/009/003.2005.issue-009-en.xml  |z IMF e-Library