The HIPC Initiative: True and False Promises
The paper develops the view that the perspective on the HIPC initiative is distorted by the fact that -contrary to the Brady deal itself- it lacks all perspective on the "market value" of the debt which is written down. The appropriate "market value" is one that takes account of...
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2000
|
| Series: | OECD Development Centre Working Papers
|
| Subjects: | |
| Online Access: | Volltext |
| Summary: | The paper develops the view that the perspective on the HIPC initiative is distorted by the fact that -contrary to the Brady deal itself- it lacks all perspective on the "market value" of the debt which is written down. The appropriate "market value" is one that takes account of the risk of non-payment: arrears, rescheduling and "constrained" refinancing of various sorts. Building upon econometric evidence that relies on middle income debtors in the eighties, the paper argues that the initiative is about ten times less generous than face value accounting would suggest ... |
| Physical Description: | 1 Online-Ressource (33 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/333105728152 |
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| spelling | Cohen, Daniel Verfasser aut The HIPC Initiative True and False Promises Daniel Cohen Paris OECD Publishing 2000 1 Online-Ressource (33 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Development Centre Working Papers The paper develops the view that the perspective on the HIPC initiative is distorted by the fact that -contrary to the Brady deal itself- it lacks all perspective on the "market value" of the debt which is written down. The appropriate "market value" is one that takes account of the risk of non-payment: arrears, rescheduling and "constrained" refinancing of various sorts. Building upon econometric evidence that relies on middle income debtors in the eighties, the paper argues that the initiative is about ten times less generous than face value accounting would suggest ... Development https://doi.org/10.1787/333105728152 Verlag kostenfrei Volltext |
| spellingShingle | Cohen, Daniel The HIPC Initiative True and False Promises Development |
| title | The HIPC Initiative True and False Promises |
| title_auth | The HIPC Initiative True and False Promises |
| title_exact_search | The HIPC Initiative True and False Promises |
| title_exact_search_txtP | The HIPC Initiative True and False Promises |
| title_full | The HIPC Initiative True and False Promises Daniel Cohen |
| title_fullStr | The HIPC Initiative True and False Promises Daniel Cohen |
| title_full_unstemmed | The HIPC Initiative True and False Promises Daniel Cohen |
| title_short | The HIPC Initiative |
| title_sort | the hipc initiative true and false promises |
| title_sub | True and False Promises |
| topic | Development |
| topic_facet | Development |
| url | https://doi.org/10.1787/333105728152 |
| work_keys_str_mv | AT cohendaniel thehipcinitiativetrueandfalsepromises |