Format:
1 Online-Ressource (circa 59 Seiten)
,
Illustrationen
ISBN:
9781484311035
Series Statement:
IMF working paper WP/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
Additional Edition:
Erscheint auch als Druck-Ausgabe Asonuma, Tamon Sovereign Debt Restructurings in Grenada: Causes, Processes, Outcomes, and Lessons Learned Washington, D.C. : International Monetary Fund, 2017 ISBN 9781484311035
Language:
English
Keywords:
Arbeitspapier
;
Graue Literatur
DOI:
10.5089/9781484311035.001