After two years of international debt crisis, numerous changes in the conditions of international lending are being proposed and some modifications appear likely. This monograph systematically examines about two dozen widely discussed options for modifying international lending, ranging from modest revisions in terms to sweeping debt relief. The analysis considers the implications of these possibilities for economic growth in debtor countries and the financial health of lending institutions. It also explores the regulatory, tax, accounting, and other institutional implications of the various alternatives.
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