A large gap may lie between the amount of debt relief that is nominally granted to a debtor and that which is actually given up by the creditors. To help put that gap in perspective, the author proposes a valuation formula that provides: (i) the price at which a buy-back of the debt, on the secondary market, is advantageous to the country; (ii) the value to creditors of having the flows of payment guaranteed against factors that hinder a country in...
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INFORMACIÓN
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1991/09/30
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Documento de trabajo sobre investigaciones relativas a políticas
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WPS763
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1
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1
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2010/07/01
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A valuation formula for LDC debt
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secondary market