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Developing nations, banks unveil guidelines to soften blow of debt defaults.
Publication: The Miami Herald (Miami, Florida) (via Knight-Ridder/Tribune Business News) Publication Date: 23-NOV-04 |
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COPYRIGHT 2004 The Miami Herald
Byline: Pablo Bachelet
Nov. 23--WASHINGTON -- The heavyweights of the global finance community unveiled Monday a set of voluntary guidelines aimed at making debt defaults less traumatic for nations and investors alike.
Major debt issuers like Brazil, Mexico, Korea and Turkey worked together with the Institute of International Finance, an influential group of private banks, to put together the principles announced in a news conference at the IIF headquarters here.
Its promoters hope the guidelines -- the "Principles for Stable Capital Flows and Fair Debt...
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