Buy-Backs and the Market Valuation of External Debt
16 Pages Posted: 15 Feb 2006
Date Written: September 10, 1987
Abstract
This paper analyzes "buy-backs" and "debt-equity swaps" involving external debt of developing countries. It is argued that if such programs are expected to be successful in increasing the market value of remaining debt, they also lead to a roughly equivalent increase in prices at which a buy-back or debt-equity swap could be carried out.
JEL Classification: 4330, 4412
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
Recent Private Capital Inflows to Developing Countries: Is the Debt Crisis History?
By Michael P. Dooley, Eduardo Fernandez-arias, ...
-
Endogenous Creditor Seniority and External Debt Values
By Michael P. Dooley and Mark Stone
-
Endogenous Creditor Seniority and External Debt Values
By Michael P. Dooley and Mark Stone
-
Capital Inflow Reversals, Banking Stability, and Prudential Regulation in Central and Eastern Europe
By Samuel Talley, Marcelo M. Giugale, ...
-
Le problème de l`endettement extérieur des pays d`Afrique subsaharienne
-
The Regional Financial Institutions: The Arab Development Funds