Buybacks of LDC Debt and the Scope for Forgiveness:
This paper explains why a debtor country may be eager to spend foreign exchange reserves on the retirement of its cross-border obligations at market prices. A simple two-period framework shows that such spending can be profitable to both the debtor countries and their foreign creditors, and thereby...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
1991
|
| Schriftenreihe: | OECD Development Centre Working Papers
|
| Schlagworte: | |
| Online-Zugang: | kostenfrei |
| Zusammenfassung: | This paper explains why a debtor country may be eager to spend foreign exchange reserves on the retirement of its cross-border obligations at market prices. A simple two-period framework shows that such spending can be profitable to both the debtor countries and their foreign creditors, and thereby provides an explanation as to why the so-called buybacks of LDC debt actually take place. An extended version of the basic framework shows how buybacks can be induced by having commercial creditors grant debt forgiveness, and why debt forgiveness thereby becomes an optimal strategy for creditors to follow ... |
| Beschreibung: | 1 Online-Ressource (23 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/526772308631 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:35:06Z |
| indexdate | 2024-12-18T19:04:38Z |
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| language | English |
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| spelling | de Aghion, Béatriz Armendariz Verfasser aut Buybacks of LDC Debt and the Scope for Forgiveness Béatriz Armendariz de Aghion Paris OECD Publishing 1991 1 Online-Ressource (23 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Development Centre Working Papers This paper explains why a debtor country may be eager to spend foreign exchange reserves on the retirement of its cross-border obligations at market prices. A simple two-period framework shows that such spending can be profitable to both the debtor countries and their foreign creditors, and thereby provides an explanation as to why the so-called buybacks of LDC debt actually take place. An extended version of the basic framework shows how buybacks can be induced by having commercial creditors grant debt forgiveness, and why debt forgiveness thereby becomes an optimal strategy for creditors to follow ... Development https://doi.org/10.1787/526772308631 Verlag kostenfrei Volltext |
| spellingShingle | de Aghion, Béatriz Armendariz Buybacks of LDC Debt and the Scope for Forgiveness Development |
| title | Buybacks of LDC Debt and the Scope for Forgiveness |
| title_auth | Buybacks of LDC Debt and the Scope for Forgiveness |
| title_exact_search | Buybacks of LDC Debt and the Scope for Forgiveness |
| title_exact_search_txtP | Buybacks of LDC Debt and the Scope for Forgiveness |
| title_full | Buybacks of LDC Debt and the Scope for Forgiveness Béatriz Armendariz de Aghion |
| title_fullStr | Buybacks of LDC Debt and the Scope for Forgiveness Béatriz Armendariz de Aghion |
| title_full_unstemmed | Buybacks of LDC Debt and the Scope for Forgiveness Béatriz Armendariz de Aghion |
| title_short | Buybacks of LDC Debt and the Scope for Forgiveness |
| title_sort | buybacks of ldc debt and the scope for forgiveness |
| topic | Development |
| topic_facet | Development |
| url | https://doi.org/10.1787/526772308631 |
| work_keys_str_mv | AT deaghionbeatrizarmendariz buybacksofldcdebtandthescopeforforgiveness |