Call Boomerang Books 1300 36 33 32

Description - Restructuring Sovereign Debt by Alexis Rieffel

The Western powers established the International Monetary Fund (IMF) and the World Bank after World War II as "permanent machinery" to anchor the Bretton Woods system. When developing countries began experiencing debt problems in the late 1960s, the Paris Club took shape as "ad hoc machinery" to restructure debt from export credit agencies. A decade later the London Club process emerged to handle workouts of commercial bank debt. The problem of restructuring bond debt arose in the late 1990s in Argentina and several other nations, and the IMF recently proposed a permanent mechanism to deal with that challenge. This book explains why ad hoc machinery would function more effectively in the Bretton Woods system. By describing in detail the origins and operations of the London Club and Paris Club, Lex Rieffel highlights the pragmatism and flexibility associated with ad hoc approaches. He also recalls earlier proposals for creating permanent debt restructuring machinery and the reasons why they were not adopted. Recognizing that the issue of sovereign debt workout is complex, Rieffel has provided a comprehensive and detailed introduction to this important policy issue.

Buy Restructuring Sovereign Debt by Alexis Rieffel from Australia's Online Independent Bookstore, Boomerang Books.

Book Details

ISBN: 9780815774464
ISBN-10: 081577446X
Format: Hardback
(229mm x 152mm x 25mm)
Pages: 368
Imprint: Brookings Institution
Publisher: Brookings Institution
Publish Date: 1-Sep-2003
Country of Publication: United States

Book Reviews - Restructuring Sovereign Debt by Alexis Rieffel

» Have you read this book? We'd like to know what you think about it - write a review about Restructuring Sovereign Debt book by Alexis Rieffel and you'll earn 50c in Boomerang Bucks loyalty dollars (you must be a Boomerang Books Account Holder - it's free to sign up and there are great benefits!)

Write Review


Author Biography - Alexis Rieffel

Lex Rieffel is a nonresident senior fellow in the Brookings Institution's Global Economy and Development Program.

Books By Alexis Rieffel

Out of Business and on Budget by Alexis Rieffel
Paperback, July 2006
$30.56