Mexico's External Debt and the Return to Voluntary Capital Market Financing

Author/Editor:

Mohamed A. El-Erian

Publication Date:

August 1, 1991

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:

The paper analyzes the evolution of Mexico’s approach to commercial bank debt restructuring since the outbreak of the 1982 debt servicing problems. It discusses the key elements of the approach, their implementation, and their interaction with developments in the “international debt strategy.” It focusses, in particular, on factors contributing to the emergence of comprehensive market-based debt and debt service reduction operations. Together with the sustained implementation of appropriate economic policies, these operations have contributed to Mexico’s return to voluntary international capital market financing. The paper discusses the major aspects of this market re-entry process.

Series:

Working Paper No. 91/83

Subject:

English

Publication Date:

August 1, 1991

ISBN/ISSN:

9781451954494/1018-5941

Stock No:

WPIEA0831991

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

60

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