The next plan after Brady?

  • Faber M
  • 3

    Readers

    Mendeley users who have this article in their library.
  • 2

    Citations

    Citations of this article.

Abstract

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.

Get free article suggestions today

Mendeley saves you time finding and organizing research

Sign up here
Already have an account ?Sign in

Find this document

Authors

  • Mike Faber

Cite this document

Choose a citation style from the tabs below

Save time finding and organizing research with Mendeley

Sign up for free