01696cas a2200241 a 4500 AALejournalIMF003921 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451975840 1934-7456 BD-DhAAL BD-DhAAL Kozack, Julie. Considerations in the Choice of the Appropriate Discount Rate for Evaluating Sovereign Debt Restructurings / Julie Kozack. Washington, D.C. : International Monetary Fund, 2005. 1 online resource (29 pages) IMF Policy Discussion 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 Assessments regarding the effectiveness of sovereign debt restructurings are often summarized by comparisons of the net present value of debt service before and after the restructuring. These calculations are inherently sensitive to the choice of discount rate. This paper explores issues that arise in selecting discount rates when evaluating sovereign debt restructurings. It suggests using a range of discount rates and centering the analysis around the internal rate of return to assess whether the debt restructuring has generated net present value savings or costs to the debtor. Mode of access: Internet IMF Policy Discussion Papers; Policy Discussion Paper ; No. 2005/009 Full text available on IMF http://elibrary.imf.org/view/journals/003/2005/009/003.2005.issue-009-en.xml IMF e-Library