Sovereign Debt Restructurings 1950-2010
Sovereign Debt Restructurings 1950-2010

Author: Mr.Udaibir S. Das

Publisher: International Monetary Fund

Published: 2012-08-01

Total Pages: 128

ISBN-13: 1475505531

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This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950–2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt agreements with the Paris Club. We present new stylized facts on the outcome and process of debt restructurings, including on the size of haircuts, creditor participation, and legal aspects. In addition, the paper summarizes the relevant empirical literature, analyzes recent restructuring episodes, and discusses ongoing debates on crisis resolution mechanisms, credit default swaps, and the role of collective action clauses.

Financing Health Services in Africa
Financing Health Services in Africa

Author: Germano M. Mwabu

Publisher:

Published: 1990

Total Pages: 30

ISBN-13:

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African economies are performing poorly, and it is unlikely that governments will finance the health sector by raising additional tax revenues or by borrowing from international sources. What are the possibilities for user fees, community financing, and health insurance as alternatives? And should cost- recovery be an objective?

Modeling Investment Behavior in Developing Countries
Modeling Investment Behavior in Developing Countries

Author: Nemat Shafik

Publisher:

Published: 1990

Total Pages: 72

ISBN-13:

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This model of investment behavior takes into account certain characteristics common to developing countries, such as the oligopolistic structure of markets, putty- clay technology, the inelastic supply of nontraded capital goods, and financial repression.