Abstract
Recently, the Financial Times reported that
Brazilian officials have begun intensive discussions with foreign bankers and government on the country’s radical plan to convert half its 68 billion dollars (41 billion pounds) debt into tradeable securities.… Under the Brazilian plan, which officials say is subject to negotiation in order to make it more acceptable to banks, about 30 billion dollars of existing bank debt would be converted dollar for dollar into (fixed interest) bearer securities with a maturity of about 35 years.1
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Notes
The following discussion on the legal aspects of the transfer of loans between banks is based on Michael Bray, ‘Selling Off Loan Assets’ in the proceedings of a Euromoney Conference on Financial Law, Hotel Intercontinental, 5 and 6 February 1987.
M. Friesen: International Bank Supervision, London, Euromoney Publications, 1986 p. 77.
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© 1989 H. W. Singer and Soumitra Sharma
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Cataquet, H. (1989). Country Risk Management: How to Juggle With Your Arms in a Straitjacket?. In: Singer, H.W., Sharma, S. (eds) Economic Development and World Debt. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-20044-3_26
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DOI: https://doi.org/10.1007/978-1-349-20044-3_26
Publisher Name: Palgrave Macmillan, London
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