IMF Staff papers : Volume 35 No. 3.

The proposal to set up an international debt facility to buy the debt of developing countries at a discount and then mark down its contractual value is analyzed. The paper considers the central question of how the debtor countries, creditor banks, and owners of the facility would be affected; in par...

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Detalhes bibliográficos
Autor Corporativo: International Monetary Fund. Research Dept
Formato: Periódico
Idioma:English
Publicado em: Washington, D.C. : International Monetary Fund, 1988.
Colecção:IMF Staff Papers; IMF Staff Papers ; No 1988/003
Acesso em linha:Full text available on IMF
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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 The proposal to set up an international debt facility to buy the debt of developing countries at a discount and then mark down its contractual value is analyzed. The paper considers the central question of how the debtor countries, creditor banks, and owners of the facility would be affected; in particular, what redistribution of gains and losses there would be among them. The "market price effect" and the "ceiling effect" are distinguished. A crucial consideration is whether debt retained by banks is subordinated to debt bought by the facility. 
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830 0 |a IMF Staff Papers; IMF Staff Papers ;  |v No 1988/003 
856 4 0 |z Full text available on IMF  |u https://elibrary.imf.org/openurl?genre=journal&issn=1020-7635&volume=1988&issue=003  |z IMF e-Library