Documents Related to the International Monetary and Financial Committee (IMFC) Meeting, April 16, 2005

Progress Report to the International Monetary and Financial Committee on Crisis Resolution
April 20, 2004

Progress Report to the International Monetary and Financial Committee (IMFC) on Crisis Resolution
September 5, 2003

Collective Action Clauses: Recent Developments and Issues
March 25, 2003

The IMF and the Private Sector—A Factsheet

See also:
Proposals for a Sovereign Debt Restructuring Mechanism (SDRM)—A Factsheet



Progress Report to the International Monetary and Financial Committee on Crisis Resolution

April 12, 2005

Use the free Adobe Acrobat Reader to view the full text (183 kb, pdf file)

Contents

I.   Introduction
II.   Collective Action Clauses
  A. Developments in Market Practice
  B. Design of CACs in Recent Issues
  C. Encouraging the Use of CACs
III.   Principles for Stable Capital Flows and Fair Debt Restructuring in Emerging Markets
  A. Background and Main Elements of the Draft Principles
  B. Relation to Fund Policies and Practices
  C. Reactions of the Official and Private Sectors
IV.   Update on Sovereign Debt Restructuring Cases
V.   Progress Under the Evian Approach
VI.   Developments in Sovereign Debt Litigation
Tables
1.   Emerging Markets Sovereign Bond Issuance by Jurisdiction
2.   Emerging Market Sovereign Bonds Outstanding Stock by Governing Law
3.   Collective Action Clauses: G-10 Recommendations and Bonds Governed by New York Law Issued Since September 2004
4.   G-10 Recommendations and IPMA Standard Collective Action Clauses for Bonds Using Fiscal Agency Structure Governed by glish Law
Box
1.   The IIF's Draft Principles for Stable Capital Flows and Fair Debt Restructuring in Emerging Markets

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