Includes bibliographical references (pages 317-325) and index.
CONTENTS NOTE
Text of Note
Sovereign default in the Bretton Woods era -- Fundamental concepts -- The main players -- Fundamental issues -- The Paris Club -- The Bank Advisory Committee (London Club) Process -- The North-South dialogue in the 1970s -- The debt crisis of the 1980s and the Brady Plan solution -- The HIPC Initiative in the 1990s -- The post-1994 crises and the role of bonds -- The debate over private sector involvement, 1995-2002 -- What is broken? What fixes make sense? -- "Countries don't go bankrupt" -- Five milestone cases.
0
SUMMARY OR ABSTRACT
Text of Note
"By describing in detail the origins and operations of the London Club and Paris Club, Lex Rieffel highlights the pragmatism and flexibility associated with ad hoc approaches. He also recalls earlier proposals for creating permanent debt restructuring machinery and the reasons why they were not adopted. Recognizing that the issue of sovereign debt workout is complex, Rieffel has provided a comprehensive and detailed exposition of this important policy issue."
Text of Note
"Rieffel's book is an important tool for policymakers and the public, particularly as the global community-seeks to resolve the debt problems of countries as diverse as Argentina, Iraq, and Cote d'Ivoire."--Jacket.
Text of Note
"When developing countries began experiencing debt problems in the late 1960s, the Paris Club took shape as "ad hoc machinery" to restructure debt from export credit agencies. A decade later the London Club process emerged to handle workouts of commercial bank debt. Restructuring debt in the form of bonds became an issue in the late 1990s in Argentina and several other nations, and the International Monetary Fund recently proposed a permanent mechanism to deal with that challenge."
ACQUISITION INFORMATION NOTE
Source for Acquisition/Subscription Address
00004445
Source for Acquisition/Subscription Address
JSTOR
Stock Number
22573/ctv10gm051
OTHER EDITION IN ANOTHER MEDIUM
Title
Restructuring sovereign debt.
International Standard Book Number
081577446X
TOPICAL NAME USED AS SUBJECT
Debt relief-- Developing countries.
Debts, External-- Developing countries.
Loans, Foreign-- Developing countries.
BUSINESS & ECONOMICS-- Public Finance.
Debt relief.
Debts, External.
Loans, Foreign.
POLITICAL SCIENCE / Intergovernmental Organizations