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01643cas a2200241 a 4500 |
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AALejournalIMF010039 |
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|c 5.00 USD
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|z 9781451960600
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a International Monetary Fund.
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|a Valuation of Menu items in Debt Restructuring.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1989.
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|a 1 online resource (16 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper outlines a procedure for calculating the cash value of 'menu items' in debt restructuring proposals, including par and non-par exchanges, with enhancements consisting of either interest or principal guarantees. It is argued that under certain plausible assumptions interest and principal guarantees are directly equivalent to cash buy-backs. Using these assumptions, formulas to calculate the exchange ratios, resource requirements, interest rates, and net debt reduction for particular menu items are derived. It is shown that there is not a direct relationship between the exchange discount and the market price.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 1989/069
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1989/069/001.1989.issue-069-en.xml
|z IMF e-Library
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