DEBT-EQUITY-SWAPS: SOLUTION OR ILLUSION? / CONVERSION DE LA DETTE EN CAPITAL: SOLUTION OU ILLUSION?

TL;DRAbstract

The study describes and analyses the distribution of costs and benefits of participation in debt-equity swaps. It focuses on the mechanisms involved in debt-equity financing and examines the conditions under which particular distributions of costs and benefits accrue to the interesting parties. The central focus is on the impact for the national economies of debtor countries. The study gives brief descriptions of national debt-equity programs. As a summary, the study evaluates the importance of debt-equity swap pro grams in managing the indebtedness. CONVERSION DE LA DETTE EN CAPITAL: SOLUTION OU ILLUSION?

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