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IMF Staff papers: Volume 35 No. 2
Author:
International Monetary Fund. Research Dept.
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Series:
IMF Staff Papers
Volume/Issue:
Volume 1988: Issue 002
Language:
English
Publication Date:
01 Jan 1988
DOI:
https://doi.org/10.5089/9781451947021.024
ISBN:
9781451947021
ISSN:
1020-7635
Pages:
196
Keywords:
SP; investment rate; investment; interest rate; investment correlation; investment behavior; traded goods; rational private sector; Government debt management; Consumption; Budget planning and preparation; Exchange rates; Commodity prices; Global; capital mobility; Exchange rate policy
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It has been argued that “buy-backs” and “debt-equity swaps” allow developing countries to benefit from market discounts on their external debt. It is argued here, however, that if such programs are expected to be successful in increasing the market value of remaining debt, they also lead to a roughly equivalent increase in prices at which a buy-back or debt-equity swap could be carried out.
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Cover IMF Staff Papers
IMF Staff Papers
ISSN:
1020-7635
Publisher:
International Monetary Fund