Format:
1 Online-Ressource (59 p)
Series Statement:
IMF Working Paper No. 17/171
Content:
This paper documents the two debt restructurings that Grenada undertook in 2004-06 and 2013-15.Both restructurings emerged as a consequence of weak fiscal and debt situations, whichbecame unsustainable soon after external shocks hit the island economy. The two restructurings provided liquidity relief, with the second one involving a principal haircut. However, the first restructuring was not able to secure long-term debt sustainability. Grenada's restructuring experience shows the importance of (1) establishing appropriate debt restructuring objectives; (2) committing to policy reforms and maintaining ownership of the restructuring goals; and (3) engaging closely and having clear communications with creditors
Note:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 2017 erstellt
Language:
English
DOI:
10.2139/ssrn.3030762
