Strategic considerations for first-time sovereign bond issuers /

The recent round of debt relief has restored debt sustainability in many low-income countries (LICs). This, along with a continued search for yield and desire for portfolio diversification by investors, has increased the range of viable financing options, including international bonds, for many emer...

Descripción completa

Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Das, Udaibir S. (Autor), Papaioannou, Michael G. (Autor), Polan, Magdalena (Autor)
Autor Corporativo: International Monetary Fund. Monetary and Capital Markets Department
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : International Monetary Fund, ©2008.
Colección:IMF working paper ; WP/08/261.
Temas:
Bonds > Developing countries.
Risk management > Developing countries.
Debts, Public > Developing countries.
Obligations (Valeurs) > Pays en voie de développement.
Gestion du risque > Pays en voie de développement.
Dettes publiques > Pays en voie de développement.
Bonds
Debts, Public
Risk management
Auslandsverschuldung.
Öffentliche Schulden.
Aufstrebende Märkte.
Low-Income Countries.
Developing countries
Acceso en línea:Texto completo
Descripción
Sumario:The recent round of debt relief has restored debt sustainability in many low-income countries (LICs). This, along with a continued search for yield and desire for portfolio diversification by investors, has increased the range of viable financing options, including international bonds, for many emerging market (EM) economies and LICs. This paper presents some of the advantages and disadvantages of international debut bonds, within a debt sustainability framework. It outlines key preconditions and discusses strategic considerations that countries need to take into account when contemplating bond issuance in international markets for the first time. In this context, the paper also discusses some typical pitfalls in accessing international capital markets, including excessive issue size relative to the intended use of bond proceeds, issuance of bullet bonds, and inadequate preparation for accessing the markets.
Notas:At head of title: Monetary and Capital Markets Department.
"November 2008."
Descripción Física:1 online resource (27 pages) : illustrations
Bibliografía:Includes bibliographical references (pages 26-27).

Ejemplares similares