The Restoration of Latin America's Access to Voluntary Capital Market Financing: Developments and Prospects
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.
Series:
Working Paper No. 1991/074
Subject:
Bank credit Banking Bonds Capital markets Financial institutions Financial markets International capital markets Money Securities
Notes:
Also published in Staff Papers, Vol. 39, No. 1, March 1992.
English
Publication Date:
August 1, 1991
ISBN/ISSN:
9781451957914/1018-5941
Stock No:
WPIEA0741991
Pages:
15
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