Abstract
Techniques for resolving the DCs’ debt problems have evolved considerably since the debt crisis of 1982. Most of these techniques have their origins in the DCs’ financial markets and have been included in a new approach to the restructuring of the Latin American debt. This approach, referred to as the ‘menu’ approach, represents the culmination of many developments within and outside the debt restructuring process. The menu approach includes the traditional modalities instituted since 1982 and financial innovations initiated in 1987, such as the new money package for Argentina. Currency denomination, interest rate options, interest rescheduling and co-financing are examples of the traditional financing modalities. Alternative participation instruments, interest capitalization, debt prioritization and credit securitization represent some of the recent innovations in the DCs’ debt restructuring process.1
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© 1992 Antonio Jorge and Jorge Salazar-Carrillo
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Bascom, W. (1992). Credit Securitization and Developing Countries’ Debt. In: Jorge, A., Salazar-Carrillo, J. (eds) The Latin American Debt. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-12051-2_8
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DOI: https://doi.org/10.1007/978-1-349-12051-2_8
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-12053-6
Online ISBN: 978-1-349-12051-2
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