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1992 World Economic and Financial Surveys
			: Private Market Financing for Developing Countries 1992

1992 World Economic and Financial Surveys : Private Market Financing for Developing Countries 1992 »

Series: World Economic and Financial Surveys

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1992

DOI: http://dx.doi.org/10.5089/9781451940053.083

ISBN: 9781451940053

Keywords: debt, interest, bonds, bond, restructuring

This paper reviews recent developments in private market financing for developing countries. Bank creditors themselves have been more amenable to restructuring in an environment where secondary market discounts on...

The Restructuring of Sovereign Debt - Assessing the Benefits, Risks, and Feasibility of Aggregating Claims

The Restructuring of Sovereign Debt - Assessing the Benefits, Risks, and Feasibility of Aggregating Claims »

Source: The Restructuring of Sovereign Debt - Assessing the Benefits, Risks, and Feasibility of Aggregating Claims

Volume/Issue: 2003/017

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 April 2003

ISBN: 9781498329132

Keywords: Debt restructuring, Sovereign Debt Restructuring Mechanism, Collective action clauses, Financial crises, Financial markets, Bond issues, Financial institutions, PP, SDRM, bond issuance

...

Fourth Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contract

Fourth Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contract »

Source: Fourth Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contract

Volume: 19

Series: Policy Papers

Author(s): International Monetary Fund. Legal Dept.;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 March 2019

ISBN: 9781498302968

Keywords: Collective action clauses, Bond issues, Sovereign debt restructuring, Low income countries, Bond yields, Collective action clause, CACs, Sovereign debt, restructuring, Pari passu

This paper reports on progress in inclusion of enhanced collective action clauses and modified pari passu clauses as of end-October 2018. The report finds that enhanced CACs have now become the market standard, wi...

Second Progress Report On Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts

Second Progress Report On Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts »

Source: Second Progress Report On Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts

Volume/Issue: 2016/073

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2016

ISBN: 9781498344951

Keywords: Bond issues, Bonds, Collective action clauses, Debt restructuring, Sovereign debt, Public debt management, Sovereign debt restructuring, Low income countries, outstand stock, passu

endorsed in October 2014 the inclusion of key features of enhanced pari passu provisions and collective action clauses (CACs) in new international sovereign bonds. Specifically, the Executive Board endorsed the use...

Strengthening the Contractual Framework to Address Collective Action Problems in Sovereign Debt Restructuring

Strengthening the Contractual Framework to Address Collective Action Problems in Sovereign Debt Restructuring »

Source: Strengthening the Contractual Framework to Address Collective Action Problems in Sovereign Debt Restructuring

Volume/Issue: 2014/013

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 February 2014

ISBN: 9781498342797

Keywords: Bonds, Collective action clauses, Debt restructuring, Sovereign debt, Public debt management, Bond issues, Sovereign debt restructuring, International capital markets, Interest rate reductions, passu

This paper identifies contractual reforms designed to address collective action problems in sovereign debt restructuring. Since any decisions regarding the design of contractual provisions will need to be made by t...

Progress Report to the International Monetary and Financial Committee (IMFC) on Crisis Resolution

Progress Report to the International Monetary and Financial Committee (IMFC) on Crisis Resolution »

Source: Progress Report to the International Monetary and Financial Committee (IMFC) on Crisis Resolution

Volume/Issue: 2003/021

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2003

ISBN: 9781498329118

Keywords: Debt restructuring, Financial crisis, Reports to International Monetary and Financial Committee, Access to international capital markets, International capital markets, Bond issues, Collective action clauses, Bond markets, new York law, York law

...

Reviewing the Process for Sovereign Debt Restructuring Within the Existing Legal Framework

Reviewing the Process for Sovereign Debt Restructuring Within the Existing Legal Framework »

Source: Reviewing the Process for Sovereign Debt Restructuring Within the Existing Legal Framework

Volume/Issue: 2003/002

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 January 2003

ISBN: 9781498329231

Keywords: Sovereign Debt Restructuring Mechanism, International bond markets, Financial crises, Access to international capital markets, Collective action clauses, Financial statistics, PP, collective action problem, action problem, restructure process

...

The Problem that Wasn't

The Problem that Wasn't »

Source: The Problem that Wasn't : Coordination Failures in Sovereign Debt Restructurings

Volume/Issue: 2011/265

Series: IMF Working Papers

Author(s): Jeronimo Zettelmeyer , Marcos Chamon , and Ran Bi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2011

ISBN: 9781463924645

Keywords: exit consents, creditor coordination, bond, bonds, debt restructuring, International Monetary Arrangements and Institutions, International Lending and Debt Problems, Macroeconomic Aspects of International Trade and Finance: Other, International Law,

Contrary to widespread expectation, debt renegotiations in the era of bond finance have generally been quick and involved little litigation. We present a model that rationalizes the initial fears and offers interpr...

The Design and Effectiveness of Collective Action Clauses

The Design and Effectiveness of Collective Action Clauses »

Source: The Design and Effectiveness of Collective Action Clauses

Volume/Issue: 2002/029

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 June 2002

ISBN: 9781498328487

Keywords: Bonds, Collective action clauses, Commercial borrowing, Debt restructuring, Domestic debt, Bond issues, International capital markets, Financial institutions, PP, bondholder

...

Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts

Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts »

Source: Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts

Volume/Issue: 2015/053

Series: Policy Papers

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 September 2015

ISBN: 9781498344210

Keywords: Public debt management, Sovereign debt restructuring, Bond issues, Low income countries, Risk premium, passu, bondholder, issuer, new York law, York law

As part of the Fund's ongoing work on sovereign debt restructuring, in October 2014 the Executive Board endorsed the inclusion of key features of enhanced pari passu provisions and collective action clauses (CACs)...