Issues in Debt Strategy: An Overview
Author: W. M. Corden1 and Mr. Michael P. Dooley2
  • 1 0000000404811396https://isni.org/isni/0000000404811396International Monetary Fund
  • | 2 0000000404811396https://isni.org/isni/0000000404811396International Monetary Fund
Language:
English
Keywords:
BOOK; debt; debtor country; market; debt situation; market price; debt facility; rate of return; GDP ratio; Interest payments; Consumption; Debt service; Debt relief

Abstract

This paper touches on many topics relating to the debt strategy that are also discussed elsewhere in this book. Because of the market discount on debt, an inadequate share of world savings may be going to indebted countries. Various “growing out of debt” scenarios are expounded, and the roles of concerted lending and of the policies of debtor countries in affecting the availability of new funds are discussed. The paper outlines the essential features of buy-backs, of securitization, of debt-equity swaps and of the transformation of debt into contingent claims, and also the implications of debt relief for debtors and creditors and of an international debt facility.

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Cover Analytical Issues in Debt
Analytical Issues in Debt
Editor: Mr. Peter Wickham, Mr. Jacob A. Frenkel, and Mr. Michael P. Dooley
ISBN:
9781557750419
Publication Date:
15 Mar 1989
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557750419.071
Pages:
427