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|z 9781484311035
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|a 1018-5941
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|a Asonuma, Tamon.
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|a Sovereign Debt Restructurings in Grenada :
|b Causes, Processes, Outcomes, and Lessons Learned /
|c Tamon Asonuma, Xin Li, Michael Papaioannou, Saji Thomas.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2017.
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|a 1 online resource (58 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 documents the two debt restructurings that Grenada undertook in 2004-06 and 2013-15.Both restructurings emerged as a consequence of weak fiscal and debt situations, whichbecame unsustainable soon after external shocks hit the island economy. The two restructurings provided liquidity relief, with the second one involving a principal haircut. However, the first restructuring was not able to secure long-term debt sustainability. Grenada's restructuring experience shows the importance of (1) establishing appropriate debt restructuring objectives; (2) committing to policy reforms and maintaining ownership of the restructuring goals; and (3) engaging closely and having clear communications with creditors.
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|a Mode of access: Internet
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|a Li, Xin.
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|a Papaioannou, Michael.
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|a Thomas, Saji.
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|a IMF Working Papers; Working Paper ;
|v No. 2017/171
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2017/171/001.2017.issue-171-en.xml
|z IMF e-Library
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