The next plan after Brady?

Citations of this article
Mendeley users who have this article in their library.
Get full text


Experience suggests that schemes for dealing with sovereign, less developed country debt to the commercial banks have a limited life span. This article looks at a number of modifications to the Brady proposals that might render them appropriate for dealing with the next stage. It is suggested (1) that a five-year target for getting rid of the debt overhang should be accepted for reforming LDC economies; (2) that debt servicing costs should be limited to a realistic proportion of the debtor's foreign exchange earnings; and (3) that competitive sovereign debt tendering (CSDT) provides the most efficient method of extinguishing the debt overhang. © 1990.




Faber, M. (1990). The next plan after Brady? World Development, 18(12), 1703–1710.

Register to see more suggestions

Mendeley helps you to discover research relevant for your work.

Already have an account?

Save time finding and organizing research with Mendeley

Sign up for free