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Article: Debt Buybacks, Debt Reduction, and Debt Rescheduling under Asymmetric Information.
- Article from:
- Journal of Money, Credit & Banking
- Article date:
- February 1, 2000
- Author:
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Copyright informationCOPYRIGHT 2000 Ohio State University Press. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AFTER NEARLY A DECADE OF SUFFERING from debt-ridden economies, in the early nineties many countries with large external debts finally reduced their debt-service ratios, regained access to spontaneous private financing and achieved higher growth and lower inflation (IMF 1993). Many analysts have since attributed at least part of this success to the shift in the international debt strategy in 1989 which took a new direction with the so-called Brady initiative.(1) A rather controversial feature of this initiative was the use of scarce resources from the debtor countries to buy back part of their debt.
There are two reasons why this use of a country's resources seems unwise. ...
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Article: Nigeria signs 13.1 billion dollars debt rescheduling agreements
Xinhua News Agency;
February 9, 2004 ;
251 words
...Nigeria signs 13.1 billion dollars debt rescheduling agreements ABUJA, Feb. 9 (Xinhua) -- The Nigerian federal government has signed nine debt rescheduling agreements worth more than 13.134 billion dollars since 2002, an official from the Debt...
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