There is always some price that is low enough so that a debtor country gains by buying back some of its debts. Similarly, there is always some price that is high enough so that creditors gain by selling their debt claims. What is needed is a mechanism that allows trades to take place at some price within this range. One mechanism, the market buyback, has been called a boondoggle. However, market buybacks are too expensive from the debtor's point of...
更多显示
详细
-
1991/05/31
-
政策研究报告
-
WPS675
-
1
-
1
-
2010/07/01
-
Are buybacks back? Menu-driven debt-reduction schemes with heterogenous creditors
-
regulation of bank