Restructuring Sovereign Debt: The Case for AD Hoc Machinery

by Alexis Rieffel and Lex Rieffel

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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. Restructuring...

• Format: Paperback
• Language: English
• ISBN: 081573400X
• ISBN13: 9780815734000
• Release Date: September 2003
• Publisher: Brookings Institution Press
• Length: 368 Pages
• Weight: 1.16 lbs.
• Dimensions: 0.8" x 6.0" x 9.0"