{
  "title": "Restructuring of Commercial Bank Debt by Developing Countries: Lessons from Recent Experience",
  "publication": "IMF Policy Discussion Papers, July 1, 1993",
  "sourceUrl": "https://www.imf.org/en/publications/imf-policy-discussion-papers/issues/2016/12/30/restructuring-of-commercial-bank-debt-by-developing-countries-lessons-from-recent-experience-1484",
  "canonical": "https://www.imf.org/en/publications/imf-policy-discussion-papers/issues/2016/12/30/restructuring-of-commercial-bank-debt-by-developing-countries-lessons-from-recent-experience-1484",
  "overlayPath": "/en/publications/imf-policy-discussion-papers/issues/2016/12/30/restructuring-of-commercial-bank-debt-by-developing-countries-lessons-from-recent-experience-1484/index.md",
  "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.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Authors: Mohamed A. El-Erian, Charles Collyns\n- Publication date: July 1, 1993\n- Series: Policy Discussion Paper No. 1993/007\n- Issue: 007\n- Volume: 1993\n- Pages: 33\n- DOI: https://doi.org/10.5089/9781451971187.003\n- ISBN: 9781451971187\n- ISSN: 1564-5193\n- Summary statement: 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."
    },
    {
      "heading": "Framework of the international debt strategy (as described in the paper)",
      "content": "- Paper follows a brief description of the framework of the international debt strategy before discussing lessons.\n- Distinguishes between lessons relevant to:\n  - the process of negotiation, and\n  - the structure of the package being negotiated."
    },
    {
      "heading": "Main lessons — process of negotiation",
      "content": "- The paper discusses lessons relevant to the process of negotiation (specific procedural points are treated in the paper)."
    },
    {
      "heading": "Main lessons — structure of the package",
      "content": "- The paper discusses lessons relevant to the structure of the package being negotiated (specific structural elements are treated in the paper)."
    },
    {
      "heading": "Subject areas and keywords covered",
      "content": "- Subject: Asset and liability management; Bank resolution; Banking; Commercial banks; Debt reduction; Debt restructuring; Debt service; External debt; Financial crises; Financial institutions\n- 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"
    },
    {
      "heading": "Accessibility and publication notes",
      "content": "- Classified as: A Paper on Policy Analysis and Assessment\n- Authors would welcome comments on the present text.\n- Citation guidance: Citations should refer to a Paper on Policy Analysis and Assessment of the International Monetary Fund, mentioning the authors and the date of issuance.\n- Disclaimer: The views expressed are those of the author(s) and do not necessarily represent those of the Fund.\n\nSource: IMF Policy Discussion Papers — \"Restructuring of Commercial Bank Debt by Developing Countries: Lessons from Recent Experience\" by Mohamed A. El-Erian and Charles Collyns, July 1, 1993.\n\n---\n\n\nSource: https://www.imf.org/en/publications/imf-policy-discussion-papers/issues/2016/12/30/restructuring-of-commercial-bank-debt-by-developing-countries-lessons-from-recent-experience-1484"
    }
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    "Authors: Mohamed A. El-Erian, Charles Collyns",
    "Published: July 1, 1993",
    "Series: IMF Policy Discussion Papers",
    "DOI: https://doi.org/10.5089/9781451971187.003",
    "Authors: Mohamed A. El-Erian, Charles Collyns",
    "Publication date: July 1, 1993",
    "Series: Policy Discussion Paper No. 1993/007",
    "Issue: 007",
    "Volume: 1993",
    "Pages: 33",
    "DOI: https://doi.org/10.5089/9781451971187.003",
    "ISBN: 9781451971187",
    "ISSN: 1564-5193",
    "Summary statement: 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.",
    "Paper follows a brief description of the framework of the international debt strategy before discussing lessons.",
    "Distinguishes between lessons relevant to:",
    "The paper discusses lessons relevant to the process of negotiation (specific procedural points are treated in the paper).",
    "The paper discusses lessons relevant to the structure of the package being negotiated (specific structural elements are treated in the paper).",
    "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",
    "Classified as: A Paper on Policy Analysis and Assessment",
    "Authors would welcome comments on the present text.",
    "Citation guidance: Citations should refer to a Paper on Policy Analysis and Assessment of the International Monetary Fund, mentioning the authors and the date of issuance.",
    "Disclaimer: The views expressed are those of the author(s) and do not necessarily represent those of the Fund."
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