Debt reduction and market reentry under the Brady plan

John Clark

Quarterly Review, 1993, vol. 18, issue Win, 38-62

Abstract: In March 1989, U.S. Treasury Secretary Brady proposed a new approach to resolving the developing country debt problem and restoring the creditworthiness of restructuring countries. The Brady Plan encouraged market-based reductions in debt and debt service for countries implementing economic reforms. This article analyzes the structure of the financial packages that followed this change in approach and considers their impact on countries and their creditors.

Keywords: Brady Plan; Debts, External; Developing countries (search for similar items in EconPapers)
Date: 1993
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