1989 | OriginalPaper | Chapter
Brazilian Experience with External Debt and Prospects for Growth
Authors : Fernando Holanda de Barbosa, Manuel Sanchez de la Cal
Published in: Economic Development and World Debt
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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The developing country’s negotiations of its external debt with creditor countries, and in particular with the international banking system, have been conducted within a context in which several devices have been utilised in order (i) to reschedule the cash flow of the debt service and (ii) to reduce the actual value of the debt. These negotiations have paid much more attention to the cash-flow problem than to the actual value of the debt.