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Voluntary Debt Reduction

Voluntary Debt Reduction »

Source: Voluntary Debt Reduction : Incentives and Welfare

Volume/Issue: 1988/84

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 September 1988

ISBN: 9781451954326

Keywords: debt, debt reduction, creditors, repayment, debt relief

In an economy with a debt overhang, investment depends on expected tax rates. On the other hand, expected tax rates depend on the debt’s face value. Therefore investment depends on the face value of debt. I...

A Dynamic Model of Buy-Backs

A Dynamic Model of Buy-Backs »

Source: A Dynamic Model of Buy-Backs

Volume/Issue: 1989/56

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 July 1989

ISBN: 9781451967999

Keywords: debt, interest, debt reduction, payments, creditors

A dynamic framework is utilized to evaluate buy-backs of a country’s external debt. The model solves for the price of debt on the basis of expectations concerning the debtor’s ability to pay, and upon...

Sovereign Debt

Sovereign Debt »

Source: Sovereign Debt : A Survey of Some Theoretical and Policy Issues

Volume/Issue: 1993/56

Series: IMF Working Papers

Author(s): Vivek Arora

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1993

ISBN: 9781451968170

Keywords: debt reduction, debt relief, debt crisis, debt servicing, sovereign debt

This paper surveys the literature on sovereign debt that deals with the issues of a country’s ability-to-pay, its willingness-to-pay, and the policy responses to the debt crisis of the 1980s. The existence o...

Tax Credits for Debt Reduction

Tax Credits for Debt Reduction »

Source: Tax Credits for Debt Reduction : A Proposal

Volume/Issue: 1989/64

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 August 1989

ISBN: 9781451962857

Keywords: debt, creditors, tax credit, debt forgiveness, debt reduction

The incentives for domestic investment in debtor countries are influenced by the terms of their external obligations and by the system of taxation utilized to provide government revenue for debt payments. It is wel...

Distortionary Taxation and the Debt Laffer Curve

Distortionary Taxation and the Debt Laffer Curve »

Source: Distortionary Taxation and the Debt Laffer Curve

Volume/Issue: 1992/10

Series: IMF Working Papers

Author(s): Aasim Husain

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1992

ISBN: 9781451926545

Keywords: debt, debt reduction, repayment, debt overhang, debtor country

This paper highlights the importance of the role of the domestic tax system in determining the economic consequences of an external debt overhang. A simple taxation scheme is specified and it is shown that a countr...

Valuation of Menu items in Debt Restructuring

Valuation of Menu items in Debt Restructuring »

Source: Valuation of Menu items in Debt Restructuring

Volume/Issue: 1989/69

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 September 1989

ISBN: 9781451960600

Keywords: debt reduction, debt restructuring, net debt, present value, debtor country

This paper outlines a procedure for calculating the cash value of “menu items” in debt restructuring proposals, including par and non-par exchanges, with enhancements consisting of either interest or...

Mexico's External Debt and the Return to Voluntary Capital Market Financing

Mexico's External Debt and the Return to Voluntary Capital Market Financing »

Source: Mexico's External Debt and the Return to Voluntary Capital Market Financing

Volume/Issue: 1991/83

Series: IMF Working Papers

Author(s): Mohamed El-Erian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1991

ISBN: 9781451954494

Keywords: debt reduction, bond, bonds, debt service, debt servicing

The paper analyzes the evolution of Mexico’s approach to commercial bank debt restructuring since the outbreak of the 1982 debt servicing problems. It discusses the key elements of the approach, their implem...

The Evaluation of Debt Exchanges

The Evaluation of Debt Exchanges »

Source: The Evaluation of Debt Exchanges

Volume/Issue: 1990/9

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1990

ISBN: 9781451927085

Keywords: claims, debt reduction, claim, contractual obligations, net debt

An approach is presented for analyzing debt-for-debt exchanges from the perspective of the exchange’s impact on the country’s contractual obligations and from the perspective of the creditors whose pa...

Debt Reduction and New Loans

Debt Reduction and New Loans »

Source: Debt Reduction and New Loans : A Contracting Perspective

Volume/Issue: 1997/95

Series: IMF Working Papers

Author(s): Aasim Husain , John Carlson , and Jeffrey Zimmerman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1997

ISBN: 9781451851786

Keywords: International Debt, Rescheduling, Forgiveness, debt, debt reduction, loans, debt relief, external debt

International debt contracts can incorporate—at least implicitly—contingencies governing debt reduction. This paper examines a series of debt contracts that allow for the possibility of rescheduling,...

A Noteon Debt Reduction and Echonomic Efficiency

A Noteon Debt Reduction and Echonomic Efficiency »

Source: A Noteon Debt Reduction and Echonomic Efficiency

Volume/Issue: 1990/36

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1990

ISBN: 9781451977899

Keywords: debt reduction, debtor government, debtor country, expected value, debtor countries

This note examines the efficiency gains that might result from market-based debt reduction and alternative uses of resources. It is argued that when a country’s expected output falls short of contractual cla...