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Appendix I. The Role of the IMF

Appendix I. The Role of the IMF »

Source: Sovereign Debt Restructuring and Debt Sustainability : An Analysis of Recent Cross-Country Experience

Series: Occasional Papers

Author(s): Harald Finger , and Mauro Mecagni

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 April 2007

ISBN: 9781589066106

Keywords: public debt, bonds, sovereign debt, debt restructuring, debt sustainability

The restructurings generally occurred while IMF arrangements were in place. 49 All eight countries had an IMF arrangement when they restructured th...

Appendix II. Outcomes of Recent Restructurings

Appendix II. Outcomes of Recent Restructurings »

Source: Sovereign Debt Restructuring and Debt Sustainability : An Analysis of Recent Cross-Country Experience

Series: Occasional Papers

Author(s): Harald Finger , and Mauro Mecagni

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 April 2007

ISBN: 9781589066106

Keywords: public debt, bonds, sovereign debt, debt restructuring, debt sustainability

In September and October 1998, Ukraine restructured treasury bills equivalent to approximately $300 million and held by nonresidents into a two-year zero-coupon Eurobond with an ann...

Appendix III. Debt Decompositions in the Post-Restructuring Phase

Appendix III. Debt Decompositions in the Post-Restructuring Phase »

Source: Sovereign Debt Restructuring and Debt Sustainability : An Analysis of Recent Cross-Country Experience

Series: Occasional Papers

Author(s): Harald Finger , and Mauro Mecagni

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 April 2007

ISBN: 9781589066106

Keywords: public debt, bonds, sovereign debt, debt restructuring, debt sustainability

This appendix provides an analysis of the comparison between the actual debt dynamics of the countries in their post-restructuring periods with the projections in the IMF staff repo...

Appendix IV Public Debt Ratios and Probabilities of Debt Crises

Appendix IV Public Debt Ratios and Probabilities of Debt Crises »

Source: Sovereign Debt Restructuring and Debt Sustainability : An Analysis of Recent Cross-Country Experience

Series: Occasional Papers

Author(s): Harald Finger , and Mauro Mecagni

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 April 2007

ISBN: 9781589066106

Keywords: public debt, bonds, sovereign debt, debt restructuring, debt sustainability

We analyze the relationship between the probability of a crisis and the ratio of public debt to GDP using a pooled probit model on an unbalanced sample of 55 low- and middle-income...

Debt Crises and the Development of International Capital Markets

Debt Crises and the Development of International Capital Markets »

Source: Debt Crises and the Development of International Capital Markets

Volume/Issue: 2004/44

Series: IMF Working Papers

Author(s): Amadou Sy , and Andrea Pescatori

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2004

ISBN: 9781451846447

Keywords: Bond spreads, debt crisis, bond, debt crises, sovereign bond, bonds, Financial Institutions and Services: General,

Crises on external sovereign debt are typically defined as defaults. Such a definition accurately captures debt-servicing difficulties in the 1980s, a period of numerous defaults on bank loans. However, defining de...

I. Overview

I. Overview »

Source: Sovereign Debt Restructuring and Debt Sustainability : An Analysis of Recent Cross-Country Experience

Series: Occasional Papers

Author(s): Harald Finger , and Mauro Mecagni

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 April 2007

ISBN: 9781589066106

Keywords: public debt, bonds, sovereign debt, debt restructuring, debt sustainability

In the extreme circumstances where a restructuring of sovereign debt becomes unavoidable, an overarching objective is to restore the country’s debt to a sustainable path—a situation in which the borrower is...

I Overview

I Overview »

Source: Sovereign Debt Structure for Crisis Prevention

Series: Occasional Papers

Author(s): Eduardo Borensztein , Olivier Jeanne , Paolo Mauro , Jeronimo Zettelmeyer , and Marcos Chamon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 January 2005

ISBN: 9781589063778

Keywords: bonds, bond, currency debt, indexation, indexed bonds

The way countries structure their public borrowing has long been considered an important determinant of economic performance. This topic has recently received renewed attention as a result of not only steep...

II. Cross-Country Experience with Recent Sovereign Debt Restructurings

II. Cross-Country Experience with Recent Sovereign Debt Restructurings »

Source: Sovereign Debt Restructuring and Debt Sustainability : An Analysis of Recent Cross-Country Experience

Series: Occasional Papers

Author(s): Harald Finger , and Mauro Mecagni

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 April 2007

ISBN: 9781589066106

Keywords: public debt, bonds, sovereign debt, debt restructuring, debt sustainability

To provide the context, the initial conditions that led to a restructuring of sovereign debt are examined; then the scope and salient features of the debt restructurings are reviewed; and, finally, the outco...

II Facts on Existing Public Debt Structures

II Facts on Existing Public Debt Structures »

Source: Sovereign Debt Structure for Crisis Prevention

Series: Occasional Papers

Author(s): Eduardo Borensztein , Olivier Jeanne , Paolo Mauro , Jeronimo Zettelmeyer , and Marcos Chamon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 January 2005

ISBN: 9781589063778

Keywords: bonds, bond, currency debt, indexation, indexed bonds

Public debt in emerging market countries differs in several respects from that in advanced economies. First, average debt levels were traditionally equivalent to a lower share of GDP in emerging market count...

III Rendering Debt Structures Less Crisis Prone with Existing Instruments

III Rendering Debt Structures Less Crisis Prone with Existing Instruments »

Source: Sovereign Debt Structure for Crisis Prevention

Series: Occasional Papers

Author(s): Eduardo Borensztein , Olivier Jeanne , Paolo Mauro , Jeronimo Zettelmeyer , and Marcos Chamon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 January 2005

ISBN: 9781589063778

Keywords: bonds, bond, currency debt, indexation, indexed bonds

Existing debt structures in emerging market countries seem to rely excessively on risky forms of debt—such as short-term and foreign-currency debt—which may amplify the economic cycle, increase the likelihoo...