The Evaluation of Debt Exchanges.

An approach is presented for analyzing debt-for-debt exchanges from the perspective of the exchange's impact on the country's contractual obligations and from the perspective of the creditors whose participation is sought. A general model is developed for valuing partially guaranteed debt...

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Bibliografiske detaljer
Institution som forfatter: International Monetary Fund
Format: Tidsskrift
Sprog:English
Udgivet: Washington, D.C. : International Monetary Fund, 1990.
Serier:IMF Working Papers; Working Paper ; No. 1990/009
Online adgang:Full text available on IMF
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110 2 |a International Monetary Fund. 
245 1 4 |a The Evaluation of Debt Exchanges. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 1990. 
300 |a 1 online resource (48 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 An approach is presented for analyzing debt-for-debt exchanges from the perspective of the exchange's impact on the country's contractual obligations and from the perspective of the creditors whose participation is sought. A general model is developed for valuing partially guaranteed debt instruments and an intuitive motivation is suggested for upper and lower bounds on the valuation of instruments carrying specific as well as rolling guarantees. An appendix presents several easily employed rules of thumb which have been suggested in the literature for valuing collateralized instruments and for estimating the possible net debt reduction achievable through their issuance. 
538 |a Mode of access: Internet 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1990/009 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1990/009/001.1990.issue-009-en.xml  |z IMF e-Library