The Restoration of Latin America's Access to Voluntary Capital Market Financing: Developments and Prospects

August 1, 1991

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Mohamed A. El-Erian The Restoration of Latin America's Access to Voluntary Capital Market Financing: Developments and Prospects, (USA: International Monetary Fund, 1991) accessed September 20, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

After a prolonged and almost total reliance on debt restructurings and concerted new money facilities, several Latin American countries have, over the last two years, mobilized voluntary financing from international capital markets. Although the phenomenon is still relatively limited in terms of volume and number of borrowers, it has nevertheless attracted considerable attention. The paper reviews the nature, magnitude and terms of the market re-entry process and, by drawing upon recent country experiences, analyzes the factors that have facilitated it. This provides the basis for a discussion of the key elements affecting the short-term prospects for Latin American private and public sector voluntary debt and equity financing from international capital markets.

Subject: Bank credit, Banking, Bonds, Capital markets, Financial institutions, Financial markets, International capital markets, Money, Securities

Keywords: Bank credit, Bank debt, Bank financing package, Bond financing, Bond issue, Bonds, Borrower, Capital market, Capital market financing, Capital market re-entry, Capital markets, Financing, Financing instrument, International capital markets, Market terms, Middle East, Securities, WP

Publication Details

Pages:

15
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1991/074
Stock No:

WPIEA0741991
ISBN:

9781451957914
ISSN:

1018-5941

Notes

Also published in Staff Papers, Vol. 39, No. 1, March 1992.

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