Restructuring Sovereign Debt

Released on by Lex Rieffel
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  • Restructuring Sovereign Debt Book Detail

  • Author : Lex Rieffel
  • Release Date : 2003
  • Publisher :
  • Genre : Business & Economics
  • Pages : 364
  • ISBN 13 :
  • File Size : 88,88 MB
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Restructuring Sovereign Debt by Lex Rieffel PDF Summary

Book Description: The Western powers established the International Monetary Fund (IMF) and the World Bank after World War II as permanent machinery to anchor the Bretton Woods system. When developing countries began experiencing debt problems in the late 1960s, the Paris Club took shape as ad hoc machinery to restructure debt from export credit agencies. A decade later the London Club process emerged to handle workouts of commercial bank debt. The problem of restructuring bond debt arose in the late 1990s in Argentina and several other nations, and the IMF recently proposed a permanent mechanism to deal with that challenge. This book explains why ad hoc machinery would function more effectively in the Bretton Woods system. Paris Club, Lex Rieffel highlights the pragmatism and flexibility associated with ad hoc approaches. He also recalls earlier proposals for creating permanent debt restructuring machinery and the reasons why they were not adopted. Recognizing that the issue of sovereign debt workout is complex, Rieffel has provided a comprehensive and detailed introduction to this important policy issue.

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Restructuring Sovereign Debt

Restructuring Sovereign Debt

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The Western powers established the International Monetary Fund (IMF) and the World Bank after World War II as permanent machinery to anchor the Bretton Woods sy

Myanmar/Burma

Myanmar/Burma

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Examines internal issues of Myanmar, also known as Burma, as well as the country's relations with its neighbors and the United States, discussing the Obama admi