search query: @author Fierman, J. / total: 18
reference: 14 / 18
| Author: | Fierman, J. |
| Title: | John Reed's bold stroke. |
| Journal: | Fortune
1987 : JUN 22, VOL. 115:13, p. 20-25 |
| Index terms: | MONEY MARKETS DEBT FINANCING FINANCIAL MANAGEMENT BANK LENDING USA UNDERDEVELOPED ECONOMIES |
| Language: | eng |
| Abstract: | How Citicorp, one of the biggest U.S. banks, raised its loan loss reserves to offset Third World loans, on the initiative of its chairman John Reed. How it was followed by other U.S. banks, and how in the short-term this could lead to higher interest rates and how debtors still owe the full principal and interest on their borrowings. How loans will be sold into secondary markets, exchanged for bonds or swapped for equity stakes in Third World countries. Debt negotiations by borrowing countries and possibility of write-downs. A graph gives foreign debt owed by Baker Plan countries. |
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