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Historical Experience with Bond Financing to Developing Countries

Historical Experience with Bond Financing to Developing Countries »

Source: Historical Experience with Bond Financing to Developing Countries

Volume/Issue: 1995/27

Series: IMF Working Papers

Author(s): Thomas Laursen , and Juan Fernandez-Ansola

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1995

ISBN: 9781451844467

Keywords: bonds, bond, bondholders, dollar bonds, bond financing

The paper reviews the historical experience of developing countries with bond issues in international markets in order to put the recent wave of bond financing by these countries in some perspective. It examines de...

The Corporation of Foreign Bondholders

The Corporation of Foreign Bondholders »

Source: The Corporation of Foreign Bondholders

Volume/Issue: 2003/107

Series: IMF Working Papers

Author(s): Paolo Mauro , and Yishay Yafeh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2003

ISBN: 9781451853001

Keywords: foreign bondholders, bond finance, creditor coordination, bondholders, bonds, debt, creditors, creditor, Financial Aspects of Economic Integration, Economic History: Financial Markets and Institutions: General

This paper analyzes the Corporation of Foreign Bondholders (CFB), an association of British investors holding bonds issued by foreign governments. The CFB played a key role during the heyday of international bond f...

Sovereign Bond Restructuring

Sovereign Bond Restructuring »

Source: Sovereign Bond Restructuring : Collective Action Clauses and official Crisis Intervention

Volume/Issue: 2003/134

Series: IMF Working Papers

Author(s): Kenneth Kletzer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2003

ISBN: 9781451855623

Keywords: international financial architecture, bond, bondholders, bonds, debt renegotiation, International Lending and Debt Problems, International Economic Order,

This paper compares the restructuring of sovereign bonds with and without collective action clauses. One conclusion is that collective action clauses can allow efficient debt renegotiation in a formal model of sove...

Persistent Gaps, Volatility Types, and Default Traps

Persistent Gaps, Volatility Types, and Default Traps »

Source: Persistent Gaps, Volatility Types, and Default Traps

Volume/Issue: 2007/148

Series: IMF Working Papers

Author(s): Ana Fostel , Sandeep Kapur , and Luis Catão

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

ISBN: 9781451867121

Keywords: Sovereign Debt, Default, Country Spreads, Output Volatility and Persistence, bond, bonds, sovereign bond, bondholders, Sovereign Debt. Default,

We show that cross-country differences in the underlying volatility and persistence of macroeconomic shocks help explain two historical regularities in sovereign borrowing: the existence of "vicious" circles of bor...

Debt Dilution and Sovereign Default Risk

Debt Dilution and Sovereign Default Risk »

Source: Debt Dilution and Sovereign Default Risk

Volume/Issue: 2011/70

Series: IMF Working Papers

Author(s): Leonardo Martinez , Juan Carlos Hatchondo , and Cesar Sosa Padilla

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2011

ISBN: 9781455227099

Keywords: Sovereign Default, Endogenous Borrowing Constraints, Long-term Debt, Overborrowing, Markov Perfect Equilibrium., bonds, sovereign debt, bond, bondholders, Markov Perfect Equilibrium,

We propose a modification to a baseline sovereign default framework that allows us to quantify the importance of debt dilution in accounting for the level and volatility of the interest rate spread paid by sovereig...

Collective Action Clauses - Recent Developments and Issues

Collective Action Clauses - Recent Developments and Issues »

Source: Collective Action Clauses - Recent Developments and Issues

Volume/Issue: 2003/012

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 March 2003

ISBN: 9781498329613

Keywords: Collective action clauses, International capital markets, Access to capital markets, Bond issues, Bond markets, PP, group report, bondholder, new York law, York law

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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

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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)...

Collective Action Clauses in Sovereign Bond Contracts - Encouraging Greater Use

Collective Action Clauses in Sovereign Bond Contracts - Encouraging Greater Use »

Source: Collective Action Clauses in Sovereign Bond Contracts - Encouraging Greater Use

Volume/Issue: 2002/028

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 June 2002

ISBN: 9781498328494

Keywords: Access to Fund general resources, Bank supervision, Bond markets, Borrowing, Collective action clauses, Conditionality, Exchange rate policy surveillance, Use of Fund resources, International bond markets, Bond issues

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

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

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

Volume/Issue: 2005/088

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 December 2005

ISBN: 9781498331586

Keywords: Collective action clauses, Crisis prevention, Debt restructuring, Financial crisis, Reports to International Monetary and Financial Committee, Financial crises, Balance of payments, Sovereign debt restructuring, Sovereign debt defaults, draft principle

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