Restructuring of Commercial Bank Debt by Developing Countries: Lessons from Recent Experience

July 1, 1993

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Mohamed A. El-Erian, and Charles Collyns. Restructuring of Commercial Bank Debt by Developing Countries: Lessons from Recent Experience, (USA: International Monetary Fund, 1993) accessed September 18, 2024

Summary

A number of developing countries, including some of the largest debtors, have recently completed comprehensive debt and debt service restructuring packages with their commercial bank creditors. The experience of these countries provides important lessons for other countries that are just embarking on discussions to normalize their external payments situation. Following a brief description of the framework of the international debt strategy, this paper discusses the main lessons, distinguishing between those that are relevant to the process of negotiation and those relevant to the structure of the package being negotiated. This is a Paper on Policy Analysis and Assessment and the authors) would welcome any comments on the present text. Citations should refer to a Paper on Policy Analysis and Assessment of the International Monetary Fund, mentioning the authors) and the date of issuance. The views expressed are those of the author(s) and do not necessarily represent those of the Fund.

Subject: Asset and liability management, Bank resolution, Banking, Commercial banks, Debt reduction, Debt restructuring, Debt service, External debt, Financial crises, Financial institutions

Keywords: Bank, Bank resolution, Commercial bank debt service, Commercial banks, Debt, Debt exchange, Debt reduction, Debt restructuring, Debt service, Debt service obligation, Debt service reduction operations, Debtor country export, New money, Package, Par bond, Payment, PDP

Publication Details

Pages:

33
Volume:

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DOI:

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Issue:

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Series:

Policy Discussion Paper No. 1993/007
Stock No:

PPIEA0071993
ISBN:

9781451971187
ISSN:

1564-5193

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