01778cas a2200265 a 4500 AALejournalIMF000411 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451851786 1018-5941 BD-DhAAL BD-DhAAL Husain, Aasim. Debt Reduction and New Loans : A Contracting Perspective / Aasim Husain, John Carlson, Jeffrey Zimmerman. Washington, D.C. : International Monetary Fund, 1997. 1 online resource (24 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students International debt contracts can incorporate-at least implicitly-contingencies governing debt reduction. This paper examines a series of debt contracts that allow for the possibility of rescheduling, forgiveness, and rescheduling with forgiveness. The contract with both rescheduling and forgiveness permits a higher credit ceiling than other types of debt contracts, and contains features found in the HIPC and other recent debt reduction initiatives. If an adverse state of nature occurs, some of the debt is forgiven, a portion is rescheduled, and the remainder is repaid. At the same time, the debtor country is a net recipient of new loans. Mode of access: Internet Carlson, John. Zimmerman, Jeffrey. IMF Working Papers; Working Paper ; No. 1997/095 Full text available on IMF http://elibrary.imf.org/view/journals/001/1997/095/001.1997.issue-095-en.xml IMF e-Library