Five years after the onset of the debt crisis, concern has arisen over the sustainability of the original financing strategy over the medium-term. One dimension of the problem that is being reexamined is the level of the debt overhang. The question has become not only one of how much net financing takes place in the short-term but also whether the amount eventually serviced is reduced. The purpose of this paper is to examine the issue of reducing...
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详细
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1987/06/30
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部门工作文件
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CPD8713
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1
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1
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2017/11/15
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Disclosed
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The debt overhang : net present value considerations
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