A Primer on Sovereign Debt Buybacks and Swaps /

A Primer on Sovereign Debt Buybacks and Swaps /

This paper sets forth some basic principles that could help debt managers in emerging market and other countries to plan and implement sovereign debt buyback and swap operations. It discusses the macroeconomic context in which buybacks and swaps are undertaken, the objectives of buybacks and swaps,...

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Bibliografiske detaljer
Hovedforfatter: Polan, Magdalena
Andre forfattere: Medeiros, Carlos, Ramlogan, Parmeshwar
Format: Tidsskrift
Sprog:English
Udgivet: Washington, D.C. : International Monetary Fund, 2007.
Serier:IMF Working Papers; Working Paper ; No. 2007/058
Online adgang:Full text available on IMF
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100 1 |a Polan, Magdalena. 
245 1 2 |a A Primer on Sovereign Debt Buybacks and Swaps /  |c Magdalena Polan, Parmeshwar Ramlogan, Carlos Medeiros. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2007. 
300 |a 1 online resource (49 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 sets forth some basic principles that could help debt managers in emerging market and other countries to plan and implement sovereign debt buyback and swap operations. It discusses the macroeconomic context in which buybacks and swaps are undertaken, the objectives of buybacks and swaps, the analytical framework for deciding whether to undertake a particular buyback or swap operation and for selecting among alternative operations, and some key issues in the determination of the strategy for executing buybacks and swaps. The focus is on developing the analytical framework for evaluating sovereign debt buyback and swap operations, since very little work has been done in this area. In this regard, the paper presents a step-wise decision-making procedure, in which discounted cash flow analysis and the use of strategic benchmarks for the debt play central roles. 
538 |a Mode of access: Internet 
700 1 |a Medeiros, Carlos. 
700 1 |a Ramlogan, Parmeshwar. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2007/058 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2007/058/001.2007.issue-058-en.xml  |z IMF e-Library 

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