Author : International Monetary Fund. Legal Dept.
Publisher : International Monetary Fund
ISBN 13 : 1513574116
Total Pages : 41 pages
Book Rating : 4.10/5 ( download)
Book Synopsis Fund Support for Debt- and Debt-Service-Reduction Operations by : International Monetary Fund. Legal Dept.
Download or read book Fund Support for Debt- and Debt-Service-Reduction Operations written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2021-03-16 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The note concludes that the Fund could support a member’s use of buybacks, cash sweeteners, or collateral in the context of a Fund-supported program, provided that (i) debt restructurings using buybacks, cash sweeteners or collateral offer significant efficiency gains relative to debt restructurings that do not rely on such instruments, but are underpinned by a regular Fund-supported program; and (ii) an adequate cushion of non-multilateral debt remains after the operation. The conditions under which buybacks, cash sweeteners or collateral can be expected to deliver significant efficiency gains are narrow and specified in some detail.