Quarterly Review
Debt Reduction and Market Reentry
under the Brady Plan
Winter 1993-94Volume 18, Number 4

Author: John Clark

In March 1989, U.S. Treasury Secretary Brady proposed a new approach to resolving the developing country debt problem and restoring the creditworthiness of restructuring countries. The Brady Plan encouraged market-based reductions in debt and debt service for countries implementing economic reforms. This article analyzes the structure of the financial packages that followed this change in approach and considers their impact on countries and their creditors.

PDF full articlePDF25 pages / 2,474 kb
Related New York Fed Content
By continuing to use our site, you agree to our Terms of Use and Privacy Statement. You can learn more about how we use cookies by reviewing our Privacy Statement.   Close