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Voluntary Debt Reduction Operations: Bolivia, Mexico, And Beyond

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  • RUBEN LAMDANY

Abstract

This paper describes the main aspects and the results of voluntary debt reduction operations that occurred recently in Bolivia and Mexico. It studies the motivations and behavior of the three main agents in such operations: debtor countries, participating creditor banks and non‐participating creditor banks. The paper also discusses the main issues that debtors must address in designing future voluntary debt reduction operations.

Suggested Citation

  • Ruben Lamdany, 1989. "Voluntary Debt Reduction Operations: Bolivia, Mexico, And Beyond," Contemporary Economic Policy, Western Economic Association International, vol. 7(2), pages 66-82, April.
    • Handle: RePEc:bla:coecpo:v:7:y:1989:i:2:p:66-82
    DOI: 10.1111/j.1465-7287.1989.tb00563.x
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    References listed on IDEAS

    as
    1. Jeffrey Sachs & Harry Huizinga, 1987. "U.S. Commercial Banks and the Developing-Country Debt Crisis," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 18(2), pages 555-606.
    2. Jeffrey Sachs, 1986. "The Bolivian Hyperinflation and Stabilization," NBER Working Papers 2073, National Bureau of Economic Research, Inc.
    3. Paul R. Krugman, 1988. "Market-Based Debt-Reduction Schemes," NBER Working Papers 2587, National Bureau of Economic Research, Inc.
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