Estimating the Efficiency Gains of Debt Restructuring
Jeremy Bulow · Kenneth S. Rogoff · Ning S. Zhu
Jan 1994 · 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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