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Introduction and Summary
Factors Affecting the Impact on Secondary Market Prices
Effects of Debt Reduction Operations at Different Prices
1 other sections not shown
additional funds alternative arrears assumed that creditors assumptions billion to US$30 Bullet Maturity 30 calculations carry an interest cash flow effect cents per dollar claims collateralized principal commercial bank concessional loan restructurings credit enhancement credit risk creditor banks creditor countries debt and debt debt reduction operations debt service reduction debt service stream debtor countries discount rate Discounted Debt Exchange Effects of Debt estimates evaluate exchange offers existing loans exit bonds external debt face value IFIs Illustrative Effects increase interest rate main text market value official resources Official Sector Lending official support old loans present value price of 40 rate of return Reduction in Scheduled refinancing regulatory benefits risk free roll-over collateral account scheduled debt service secondary market prices seniority service reduction operations set-aside funds Supported by Official swaps Table tax and regulatory Transaction Price U.S. dollars unsecured portion US$30 billion World Bank yield to maturity zero coupon bonds