Browse

You are looking at 1 - 5 of 5 items for :

  • Sierra Leone x
Clear All
Mr. G. Russell Kincaid, K. Burke Dillon, Mr. Maxwell Watson, and Ms. Chanpen Puckahtikom

Abstract

The number of debt restructurings has increased sharply since the emergence of widespread payments difficulties in 1982. In that year, only 7 bank and 6 official restructuring agreements or temporary deferments were negotiated; in 1984, there were 21 and 13 respectively. Moreover, a substantial portion of the recent new private lending being made to developing countries has been coordinated under restructuring arrangements.

Mr. G. Russell Kincaid, K. Burke Dillon, Mr. Maxwell Watson, and Ms. Chanpen Puckahtikom

Abstract

No formal framework existed for conducting commercial bank debt negotiations when the serious problems of major debtor countries became evident during the course of 1982. Earlier bank debt restructurings were sporadic, involved relatively small amounts, and posed less serious difficulties for bank management and for the international financial system. The problems emerging in 1982 required procedures to restructure large volumes of debt due to hundreds of creditor banks, and to help resolve issues of burden sharing among private and official creditors. Moreover, both creditor banks and authorities in debtor countries needed a framework to facilitate the maintenance of short-term bank exposure during and after debt restructuring and to reach agreement where appropriate on commitments of new money.

Mr. G. Russell Kincaid, K. Burke Dillon, Mr. Maxwell Watson, and Ms. Chanpen Puckahtikom

Abstract

This section describes the principal features of official multilateral debt restructurings that took place during 1983–84, particularly in comparison with agreements reached during the preceding eight-year period from 1975. It documents the sharp increase in the number of reschedulings and focuses on notable recent developments, especially the trend toward an easing in the repayment terms for some countries that have had successive reschedulings. It also addresses issues relating to multiyear debt restructurings by official creditors with reference to the recent MYRA for Ecuador.

Mr. G. Russell Kincaid, K. Burke Dillon, Mr. Maxwell Watson, and Ms. Chanpen Puckahtikom

Abstract

As a key element in effective debt relief operations, official creditors attach importance to the principle of comparable treatment for all creditors and for all types of debt, apart from obligations owed to multilateral institutions. Concern with comparable treatment arises not only from the desire to achieve an equitable sharing of the burden of debt relief among creditors, but also from the need to ensure an appropriate balance between financial support from all creditors and the adjustment efforts of the debtor countries themselves. This question has received increased emphasis in recent years as a number of countries have sought debt relief and other exceptional financing in substantial amounts or for prolonged periods and both official and private creditors have recognized the need to ensure that their efforts are integrated into an overall financing plan for the debtor.

Mr. G. Russell Kincaid, K. Burke Dillon, Mr. Maxwell Watson, and Ms. Chanpen Puckahtikom

Abstract

This paper, following two earlier studies, reviews the arrangements for restructuring commercial bank and official debt up to early 1985.