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Sovereign Debt: Is to Forgive to Forget?
Stanford University.
University of Wisconsin.
1988 (English)Report (Other academic)
Abstract [en]

International lending to a less-developed country cannot be based on the debtor's reputation for making repayments. That is, loans to LDCs will no be made or repaid unless foreign creditors have legal or other direct sanctions they can exercise agains a sovereign debtor who defaults. Even if some lending is feasible because of direct sanctions, having a reputation for repayment in no way enhances a small LDC's ability to borrow.

Place, publisher, year, edition, pages
Stockholm: IIES , 1988. , 30 p.
Seminar Paper / Institute for International Economic Studies, Stockholm University, ISSN 0347-8769 ; 411
National Category
URN: urn:nbn:se:su:diva-41598OAI: diva2:331562
Published in connection with a visit at the IIES.Available from: 2010-07-23 Created: 2010-07-23 Last updated: 2010-07-23

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ReferencesLink to record
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