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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...

Capacity Development

Capacity Development »

Source: International Monetary Fund Annual Report 2015 : Tackling Challenges Together

Series: Annual Report of the Executive Board

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2015

ISBN: 9781475544886

Keywords: debt, imf, tax, interest, investment

The IMF shares its expertise with officials in member countries and provides training to them—what it calls “capacity development”—to help countries build strong...

Considerations in the Choice of the Appropriate Discount Rate for Evaluating Sovereign Debt Restructurings

Considerations in the Choice of the Appropriate Discount Rate for Evaluating Sovereign Debt Restructurings »

Source: Considerations in the Choice of the Appropriate Discount Rate for Evaluating Sovereign Debt Restructurings

Volume/Issue: 2005/9

Series: IMF Policy Discussion Papers

Author(s): Julie Kozack

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2005

ISBN: 9781451975840

Keywords: Financial crisis, Discount rates, International financial markets, Sovereign debt restructuring, Discount rate, net present value, debt, debt restructuring, debt sustainability, debt service

Assessments regarding the effectiveness of sovereign debt restructurings are often summarized by comparisons of the net present value of debt service before and after the restructuring. These calculations are inher...

Economic Surveillance

Economic Surveillance »

Source: International Monetary Fund Annual Report 2015 : Tackling Challenges Together

Series: Annual Report of the Executive Board

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2015

ISBN: 9781475544886

Keywords: debt, imf, tax, interest, investment

Surveillance is the catch-all term encompassing the process by which the IMF oversees the international monetary system and global economic developments, and mon...

Finances, Organization, and Accountability

Finances, Organization, and Accountability »

Source: International Monetary Fund Annual Report 2015 : Tackling Challenges Together

Series: Annual Report of the Executive Board

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2015

ISBN: 9781475544886

Keywords: debt, imf, tax, interest, investment

In FY2015, the IMF operated within an unchanged budget envelope in real terms. This was the third year in row. Greater utilization and reallocation of the budget enabled the IMF to meet new demands. The IMF’...

Government Involvement in Corporate Debt Restructuring

Government Involvement in Corporate Debt Restructuring »

Source: Government Involvement in Corporate Debt Restructuring : Case Studies from the Great Recession

Volume/Issue: 2010/260

Series: IMF Working Papers

Author(s): David Grigorian , and Faezeh Raei

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2010

ISBN: 9781455209606

Keywords: corporate debt restructuring, contingent liablities, quasi-sovereign risk, debt restructuring, recapitalization, banking, Corporate Finance And Governance,

The paper examines recent episodes of government involvement in corporate debt restructurings. It argues that corporate debt restructuring is an important step toward recovery from a financial crisis. We then discu...

Haircuts

Haircuts »

Source: Haircuts : Estimating Investor Losses in Sovereign Debt Restructurings, 1998-2005

Volume/Issue: 2005/137

Series: IMF Working Papers

Author(s): Jeronimo Zettelmeyer , and Federico Sturzenegger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2005

ISBN: 9781451861563

Keywords: Defaults, bond, bonds, debt, present value, discount rate, International Lending and Debt Problems,

This paper estimates bond-by-bond "haircuts"-realized investor losses-in recent debt restructurings in Russia, Ukraine, Pakistan, Ecuador, Argentina, and Uruguay. We consider both external and domestic retructuring...