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An International Debt Facility?

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  • International Monetary Fund

Abstract

A common proposal designed to deal with the developing countries’ debt problem is that there be set up some kind of “international debt facility” which would buy up debt at a discount and then write down its contractual value, hence providing debt relief. There are three main parties to the proposed transaction, namely the debtor governments, the creditor banks, and the owners of the facility. The paper analyzes the central question of how each of the parties would be affected and, specifically, to what extent there would be some redistribution between them as a result of the arrangement.

Suggested Citation

  • International Monetary Fund, 1988. "An International Debt Facility?," IMF Working Papers 1988/016, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1988/016
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    Citations

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    Cited by:

    1. Bowe, M. & Dean, J.W., 1997. "Has the Market Solved the Sovereign-Debt Crisis?," Princeton Studies in International Economics 83, International Economics Section, Departement of Economics Princeton University,.
    2. repec:dau:papers:123456789/10905 is not listed on IDEAS
    3. G. John Ikenberry, 1993. "The Political Origins of Bretton Woods," NBER Chapters, in: A Retrospective on the Bretton Woods System: Lessons for International Monetary Reform, pages 155-198, National Bureau of Economic Research, Inc.
    4. Bresser-Pereira, Luiz Carlos, 1993. "A turning point in the debt crisis and the bank: a Brasilian memoir," Textos para discussão 48, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).

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