| Autor: |
Tamon Asonuma, Mike Xin Li, Michael G. Papaioannou, Saji Thomas, Eriko Togo |
| Jazyk: |
angličtina |
| Rok vydání: |
2018 |
| Předmět: |
|
| Zdroj: |
Journal of Banking and Financial Economics, Vol 2018, Iss 2, Pp 67-105 (2018) |
| Druh dokumentu: |
article |
| ISSN: |
2353-6845 |
| DOI: |
10.7172/2353-6845.jbfe.2018.2.4 |
| Popis: |
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. |
| Databáze: |
Directory of Open Access Journals |
| Externí odkaz: |
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