01757cas a2200241 a 4500 AALejournalIMF020456 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498344210 2663-3493 BD-DhAAL BD-DhAAL International Monetary Fund. Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts. Washington, D.C. : International Monetary Fund, 2015. 1 online resource (20 pages) Policy 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 As part of the Fund's ongoing work on sovereign debt restructuring, in October 2014 the Executive Board endorsed the inclusion of key features of enhanced pari passu provisions and collective action clauses (CACs) in new international sovereign bonds.1 Specifically, the Executive Board endorsed the use of: (i) a modified pari passu clause that explicitly excludes the obligation to effect ratable payments and (ii) an enhanced CAC with a menu of voting procedures, including a 'single-limb' voting procedure that enables bonds to be restructured on the basis of a single vote across all affected instruments, a two-limb aggregated voting procedure and a series-by-series voting procedure. Mode of access: Internet Policy Papers; Policy Paper ; No. 2015/053 Full text available on IMF http://elibrary.imf.org/view/journals/007/2015/053/007.2015.issue-053-en.xml IMF e-Library