- Tytuł:
- Sovereign Debt Restructurings in Grenada: Causes, Processes, Outcomes, and Lessons Learned
- Autorzy:
-
Asonuma, Tamon
Xin Li, Mike
Papaioannou, Michael G.
Thomas, Saji
Togo, Eriko - Powiązania:
- https://bibliotekanauki.pl/articles/2040944.pdf
- Data publikacji:
- 2018-11-15
- Wydawca:
- Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
- Tematy:
-
Sovereign Debt
Sovereign Defaults
Sovereign Debt Restructurings
Serial Debt
Restructurings
Serial Defaults
Grenada
Disaster Clause - Opis:
- 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, which became 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.
- Źródło:
-
Journal of Banking and Financial Economics; 2018, 2(10); 67-105
2353-6845 - Pojawia się w:
- Journal of Banking and Financial Economics
- Dostawca treści:
- Biblioteka Nauki
Artykuł