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Valuation of Menu items in Debt Restructuring.
- Format:
- Book
- Government document
- Author/Creator:
- International Monetary Fund.
- Series:
- IMF Working Papers; Working Paper ; No. 1989/069
- IMF Working Papers
- Language:
- English
- Physical Description:
- 1 online resource (16 pages)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 1989.
- Language Note:
- English
- Summary:
- This paper outlines a procedure for calculating the cash value of “menu items” in debt restructuring proposals, including par and non-par exchanges, with enhancements consisting of either interest or principal guarantees. It is argued that under certain plausible assumptions interest and principal guarantees are directly equivalent to cash buy-backs. Using these assumptions, formulas to calculate the exchange ratios, resource requirements, interest rates, and net debt reduction for particular menu items are derived. It is shown that there is not a direct relationship between the exchange discount and the market price.
- Notes:
- Bibliographic Level Mode of Issuance: Monograph
- Description based on print version record.
- ISBN:
- 9781455285815
- 1455285811
- 9781462398430
- 146239843X
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