Debt Reduction and New Loans : A Contracting Perspective

A Contracting Perspective

Debt Reduction and New Loans : A Contracting Perspective
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, forgiveness, and rescheduling with forgiveness. The contract with both rescheduling and forgiveness permits a higher credit ceiling than other... READ MORE...

Publication date: August 1997
ISBN 9781451851786
$15.00

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