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Debt reduction and market reentry under the Brady plan

  • John Clark
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    In March 1989, U.S. Treasury Secretary Brady proposed a new approach to resolving the developing country debt problem and restoring the creditworthiness of restructuring countries. The Brady Plan encouraged market-based reductions in debt and debt service for countries implementing economic reforms. This article analyzes the structure of the financial packages that followed this change in approach and considers their impact on countries and their creditors.

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    File URL: http://www.newyorkfed.org/research/quarterly_review/1993v18/v18n4article3.pdf
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    Article provided by Federal Reserve Bank of New York in its journal Quarterly Review.

    Volume (Year): (1993)
    Issue (Month): Win ()
    Pages: 38-62

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    Handle: RePEc:fip:fednqr:y:1993:i:win:p:38-62:n:v.18no.4
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