TY - BOOK ID - 84656627 TI - Considerations in the Choice of the Appropriate Discount Rate for Evaluating Sovereign Debt Restructurings PY - 2005 SN - 1455286206 1452754373 1451975848 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Banks and Banking KW - Exports and Imports KW - Financial Risk Management KW - International Lending and Debt Problems KW - International Financial Markets KW - Interest Rates: Determination, Term Structure, and Effects KW - Debt KW - Debt Management KW - Sovereign Debt KW - Finance KW - International economics KW - Discount rates KW - Debt restructuring KW - Debt service KW - Debt sustainability KW - Yield curve KW - Financial services KW - Asset and liability management KW - External debt KW - Discount KW - Debts, External KW - Interest rates KW - Uruguay UR - https://www.unicat.be/uniCat?func=search&query=sysid:84656627 AB - Assessments regarding the effectiveness of sovereign debt restructurings are often summarized by comparisons of the net present value of debt service before and after the restructuring. These calculations are inherently sensitive to the choice of discount rate. This paper explores issues that arise in selecting discount rates when evaluating sovereign debt restructurings. It suggests using a range of discount rates and centering the analysis around the internal rate of return to assess whether the debt restructuring has generated net present value savings or costs to the debtor. ER -