| Abstract: | While many economists assure that the restructing of sovereign external debt is a straightforward matter, there are many practical details that bankers must address in negotiating a deal. The problems are compounded in a multiyear restructing, where a new frame of reference had to be established for the problem of debt restructing, including new concepts for included and excluded debt, various schedule for amortizations, monitoring, and conditionality procedures, and pricing considerations. The end result achieved for Mexico can be used as starting point for other debt restructing discussions, at least from a technical point of view. |
