Join Amazon Prime and ship Two-Day for free and Overnight for $3.99. Already a member? Sign in.

 

or
Sign in to turn on 1-Click ordering.
 
   
More Buying Choices
13 used & new from $22.95

Have one to sell? Sell yours here
 
   
Tell a Friend
Restructuring Sovereign Debt: The Case for Ad Hoc Machinery
 
 
Are You an Author or Publisher?
Find out how to publish your own Kindle Books
 
  

Restructuring Sovereign Debt: The Case for Ad Hoc Machinery (Hardcover)

by Lex Rieffel (Author) "The machinery for sovereign debt workouts is part of a complex financial system within a more complex global political system..." (more)
Key Phrases: sovereign debt workouts, workout machinery, sovereign workouts, Paris Club, World Bank, United States (more...)
4.0 out of 5 stars  (1 customer review)

List Price: $39.95
Price: $39.95 & this item ships for FREE with Super Saver Shipping. Details
In Stock.
Ships from and sold by Amazon.com. Gift-wrap available.

Only 2 left in stock--order soon (more on the way).

Want it delivered Tuesday, July 29? Choose One-Day Shipping at checkout. See details

13 used & new available from $22.95

Better Together

Buy this book with The Chastening: Inside The Crisis That Rocked The Global Financial System And Humbled The Imf by Paul Blustein today!

Restructuring Sovereign Debt: The Case for Ad Hoc Machinery The Chastening: Inside The Crisis That Rocked The Global Financial System And Humbled The Imf
Buy Together Today: $54.23

Customers Who Bought This Item Also Bought

And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina

And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina by Paul Blustein

4.9 out of 5 stars (18) 
Explore similar items : Books (2)

Editorial Reviews
Book Description
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 debt in the form of bonds became an issue in the late 1990s in Argentina and several other nations, and the IMF recently proposed a permanent mechanism to deal with that challenge. Restructuring Sovereign Debt explains why ad hoc machinery would function more effectively in the Bretton Woods system.

By describing in detail the origins and operations of the London Club and Paris Club, Lex Rieffel highlights the pragmatism and flexibility associated with ad hoc approaches. He also recalls earlier proposals for creating permanent debt restructuring machinery and the reasons why they were not adopted. Recognizing that the issue of sovereign debt workout is complex, Rieffel has provided a comprehensive and detailed exposition of this important policy issue.

Rieffel’s book is an important tool for policymakers and the public, particularly as the global community seeks to resolve the debt problems of countries as diverse as Argentina, Iraq, and Côte d’Ivoire.

About the Author
Lex Rieffel brings to this subject forty years of experience with economic development and international finance. In the early 1970s he worked for the U.S. Agency for International Development (U.S. AID), including two years in Jakarta, Indonesia. During eighteen years with the U.S. Treasury Department he participated in numerous Paris Club negotiations, served on the staff of the U.S. executive director in the International Monetary fund, and directed the office responsible for issues related to the countries of Eastern Europe and the former Soviet Union at the beginning of their transitions. At the Institute of International Finance from 1994 to 2001, he was the senior adviser for multilateral policy issues, focusing primarily on private sector involvement in crisis prevention and resolution. Currrently he is teaching, consulting, and writing.


Product Details
  • Hardcover: 368 pages
  • Publisher: Brookings Institution Press (September 2003)
  • Language: English
  • ISBN-10: 081577446X
  • ISBN-13: 978-0815774464
  • Product Dimensions: 9.2 x 6.3 x 1.2 inches
  • Shipping Weight: 1.4 pounds (View shipping rates and policies)
  • Average Customer Review: 4.0 out of 5 stars  (1 customer review)
  • Amazon.com Sales Rank: #1,005,766 in Books (See Bestsellers in Books)
    (Publishers and authors: Improve Your Sales)