Estimating the Efficiency Gains of Debt Restructuring

· ·
· World Bank Publications
Ebook
30
Pages

About this ebook

The debt- overhang disincentive may not be as important as the broader problem of debtors' credit constraints in international capital markets. For severely indebted low- income countries, the best strategy is probably to replace nonconcessional debt with new concessional loans.

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