INT'L
FINANCIAL ARCHITECTURE/DEBT RESTRUCTURING
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"Financial
Stability and Local Currency Bond Markets." June 2007 - The Committee on the
Global Financial System (Bank for International Settlements).
"Belize's Innovations." May
2007. Lee C. Buchheit and Elizabeth Karpinski (Cleary Gottlieb Hamilton & Steen
LLP). This article first appeared in Butterworths Journal of International
Banking and Financial Law (May 2007 Vol. 22 - No. 05) and is reposted with
their kind permission.
"Time is Right for Bringing Bonds into Africa." May 15, 2007 - Jerome Booth (Ashmore Investment Management).
"Venezuela: Should I Stay or Should I Go (from the IMF)?" May 10, 2007 -
Pablo Goldberg, Jane Brauer, Anjali Prakash (Merrill Lynch).
"Argentina: Latest
Court Developments." February 8, 2007 - Guillermo Mondino (Lehman Brothers).
"Sovereign Debt
Default: Cry for the United States, not Argentina." September 2006 - Hal S.
Scott (Harvard Law School, published by Washington Legal Foundation).
"Sailing in Calmer
Waters: The Prospects for Domestic Bond Markets in Latin America." August 31,
2006 - Christian Kopf (Published by Deutsche Bank Research).
"Belize
- Update on Our View of the Upcoming Restructuring."
August 17, 2006 - Carl Ross (Bear Stearns).
"Russia: New FTO Debt
Swap--at Long Last." August 1, 2006 - Arend Kapteyn and Yaroslav Lissovolik
(Deutsche Bank).
"Past. Present.....No Future?" June 9, 2006 - Elena Tulloch and Jane Brauer
(Merrill Lynch). As Emerging
Market countries retire their Brady
bonds, the universe of investors has expanded beyond those willing and able
to understand their complex cash flows and collateral structures.
"Success of Brady Plan
Marked in Early Bond Retirements." April 6, 2006 - Matthew Cowley (Dow Jones
Newswires). Posted with Permission from Dow Jones Newswires.
"Bondholder Litigation Against Argentina Grows." February 22, 2006 - Pablo Morra
(Goldman Sachs).
"Out of Africa." December 31, 2005 - Jay Newman (Elliott Management
Corporation). Reprinted from The Wall Street Journal © 2005 Dow Jones & Company.
All rights reserved.
"Myths and Realities." September
2005 - Paul Singer and Jay Newman (Elliott Associates).
"Of
Judges and Vultures." June 2005 - John Barham (Latin Finance).
"How
ICSID Can Protect Sovereign Bondholders." September 2005 - Peter Griffin and
Ania Farren (Baker Botts).
This article first
appeared in the September edition of International Financial Law Review.
"From
Rogue Creditors to Rogue Debtors: Implications of Argentina's Default."
Arturo Porzecanski. (Posted with the Permission of the Chicago Journal of
International Law, Summer 2005, Volume 6, Number 1).
"Nigeria: Update
of Paris Club Debt Agreement." July 6, 2005 - Tim Ash (Bear Stearns).
"The
Importance of Going Local: Shifting Away from Foreign Currency Sovereign Debt in
Latin America." June 21, 2005 - Sebastian Briozzo (Standard & Poor's).
"Belize:
Clarifying Recent Government Statements."
June 7, 2005
- Christine Richmond (Deutsche Bank).
"Russia: Comments on Paris Club Deal." May 16, 2005 - Tim Ash (Bear Stearns).
"Dominican Republic
Restructuring Update." April 8, 2005 - Franco Uccelli, Alex Monroy and Carl
Ross (Bear Stearns).
"Argentina Debt Restructuring: Belgian Legal Reform Limits the Options of
Holdouts." February 24, 2005 - Vladimir Werning (JP Morgan).
"Argentina: Developments in Lawsuits of Holdout Creditors vs. Mendoza Province."
February 10, 2005 - Vladimir Werning (JP Morgan).
"Bondholders
Won't Back New Principles." December 2004 - Felix Salmon.
“Iraq’s
Paris Club Deal: They Said It Couldn’t Be Done.” November 2004 -
Richard Segal (Exotix).
"Collective
Action Clauses (CACs): An Analysis of Provisions Included in Recent Sovereign
Bond Issues." November 2, 2004 - Bank of England.
“An
Injunction to Halt Exit Consent Abuses.” November 1, 2004 - Daniel C.
Tillotson (Wachovia Securities).
"Argentina
- What is Fairness." October 26, 2004 - Daniel C. Tillotson (Wachovia
Securities).
“Argentina’s
Sovereign Debt Restructuring.” October 19, 2004 – J. F. Hornbeck
(Congressional Research Service Report for Congress).
"Argentina
Road Map of the Restructuring: What to Look for at Each Stage of the
Process." October 7, 2004 - Vladimir Werning (JP Morgan).
"Argentina:
Does the Province of Mendoza Deal Matter for the Sovereign?" September 30,
2004 - Andres Lederman (Citigroup).
"Sovereign
Defaults Set to Fall Again in 2005."
September
28, 2005
- David T. Beers and John Chambers (Standard & Poor's).
"Argentina:
Is a Debt Deal Imminent?" September 24, 2004 - Andres Lederman (Citigroup).
"Argentina:
Investor's Prisoners Dilemma." September 2, 2004 - Pablo Goldberg (Merrill
Lynch).
"Lavagna's
Comments on Argentina's Debt Restructuring." September 2, 2004 - Marc
Balston and David Sekiguchi (Deutsche Bank).
"Iraq
News
Update for External Debt Observers” August 2004 - Richard Segal (Exotix Limited).
"Argentina: The Debt Saga at a
Crossroads." August 27, 2004 - Pablo Morra (Goldman Sachs).
"The Paris Club and the
Dominican Republic." July 15, 2004 - Michael Gavin (UBS).
"The Paris Club and the
Bond Markets." July 12, 2004 - Michael Gavin (UBS).
"Russia: Repackaging
of Paris Club Debt to Germany." June 30, 2004 - Tim Ash (Bear Stearns).
"Russia's
New Aries Bond: Paris Club Debt Securitization." June 30, 2004 - Jane
Brauer and Ralph Sueppel (Merrill Lynch).
"Germany's
Priority Undermines Russia's Technicals." June 25, 2004 - Michael Marrese,
Jonathan Bayliss, Stuart Sclater-Booth, Vladimir Werning, Frank Zheng and Gloria
Kim (J.P. Morgan).
"The Making of
Argentina's Restructuring Trade: A Self-Fulfilling Deal?" April 16, 2004 -
Martin Anidjar and Leland Wei (Morgan Stanley).
"Has
Argentina Found a True Amicus?" January 15, 2004 - Guillermo Mondino,
Esteban Fernandez Medrano and Luciano Laspina (Latin Source).
"The
Constructive Role of Private Creditors." Arturo Porzecanski (ABN Amro).
Reprinted from "Dealing Justly with Debt," Ethics and International
Affairs Volume 17, No. 2, with the kind permission of the Carnegie Council on
Ethics and International Affairs.
"Restructuring
Sovereign Debt: The Case for Ad Hoc Machinery." September 15, 2003
- Lex Rieffel (Brookings Institution Press).
"The
Class Action Threats to Sovereign Workouts." July 2003 - Whitney Debevoise
and David Orta (Arnold & Porter). Posted with permission of International
Financial Law Review.
"International
Financial Crises: Challenges Remain in IMF's Ability to Anticipate, Prevent, and
Resolve Financial Crises." June 16, 2003 - General Accounting Office.
“Chamberlin Remarks at Int’l Insolvency
Institute.” June 9, 2003 - Michael M. Chamberlin (EMTA).
"Restructuring
Sovereign Debt: The Case for Ad Hoc Machinery." Available in September 2003
- Lex Rieffel (Brookings Institution Press).
"Brazil:
Positive Surprises from the New Issue." April 30, 2003 - Filippo Nencioni
(Credit Suisse First Boston).
"A
Comment on the Sovereign Debt Restructuring Debate." March 17, 2003 -
Michael Gavin (UBS Warburg).
"Sovereign
Bankruptcy Initiatives: A Critique." March 2003 - Arturo Porzecanski (ABN
Amro).
"Using Clauses
to Reform the Process for Sovereign Debt Workouts:
Progress and Next Steps." December 5, 2002 - John B. Taylor (Under Secretary of Treasury for International
Affairs) (Remarks Delivered at the EMTA Annual Meeting).
"The
Debt Crisis Debate." November 2002 - Whitney Debevoise (Arnold &
Porter).
"Argentina:
The Implications of the Terms Set by the World Bank for the Reimbursement of the
Guarantee." October 30, 2002 - Martin Anidjar (J.P. Morgan).
"EMTA
Position Regarding the Quest for More Orderly Sovereign Work-Outs." October 17, 2002.
"Sovereign
Debt Contracts: What Do We Need to Change?" October 17, 2002 -
Michael M. Chamberlin (Remarks Delivered at IIF Conference in London).
"Current
Proposals for Sovereign Debt Restructuring - Do We Really Need a Two-track
Approach" October 17, 2002. David C. Mulford (CSFB) (Remarks
Delivered at IIF Conference in London).
"Can We
Break the Crisis Cycle for Emerging Markets." October 17, 2002 -
Jacques de Larosiere (BNP-Paribas) (Remarks Delivered at IIF Conference in London).
"Global
Economic Outlook and Policy Responses." September 28, 2002 - Statement by Pedro
Malan, Minister of Finance of Brazil to the International Monetary and Financial
Committee.
"Strengthening
The International Financial Architecture: Sovereign Debt Restructuring Mechanism
(SDRM) - A Factsheet." August 2002 - International Monetary Fund.
"A Casual Observer's Commentary on the Taylor Proposal and EMCA's Model Covenants for New
Sovereign Debt Issues (5/3/02 draft)." August 9, 2002 - Michael M.
Chamberlin (EMTA).
"A
Casual Observer's Commentary [Part (1)] on the Taylor Proposal and EMCA's Model
Covenants for New Sovereign Debt Issues (5/3/02 draft)." July 17,
2002 - Michael M. Chamberlin (EMTA).
"The
Importance of a Sound Financial System in Helping Countries Overcome Financial
Crises: Seven Principles for Policymakers." May 13, 2002 -
Nicholas Brady (Darby Overseas Investments). (Remarks Delivered at the Institutional Investor
Roundtable, Shanghai, People's Republic of China.)
"A
Critique of Sovereign Bankruptcy Initiatives." April 17, 2002 - Arturo
Porzecanski (ABN Amro)."Don't Kill the Asset Class." April 8, 2002
- Walter Molano (BCP Securities).
"Don't Kill the Asset Class." April 8, 2002
- Walter Molano (BCP Securities).
"Revisiting the IMF’s Sovereign Bankruptcy Proposal and the Quest for More Orderly Sovereign Work-Outs." April 2, 2002 - Michael M. Chamberlin
(EMTA Executive Director). (Remarks Delivered at the Institute for International Economics Conference
on "Sovereign Debt Workouts: Hopes and Hazards.)"
"A Note on the International Debt Commission." March 31, 2002 - Lex
Rieffel (Guest Scholar, Brookings Institution).
"Moral
Hazard: Does IMF Financing Encourage Imprudence by Borrowers and
Lenders?" March 2002 - Timothy Lane and Steven Phillips (International
Monetary Fund).
"The IMF's
Sovereign Bankruptcy Proposal and the Quest for More Orderly
Sovereign Work-outs (Revised)." January 29, 2002 - Michael M.
Chamberlin (EMTA Executive
Director). (Remarks Delivered at the JP Morgan Emerging Markets
Winter Conference (Revised)).
"A New Approach to Sovereign Debt Restructuring." December 20,
2001 - Anne Krueger
(First Deputy Managing Director, International Monetary Fund). (Remarks
Delivered at the Indian Council
for Research on International Economic Relations.)
"Please,
Engage Brains." November 21, 2001 - Walter Molano (BCP Securities).
"How to
Keep Developing Countries in their Place: Cut them off from Capital." October 4, 2001 - Jerome Booth (Ashmore Investment
Management).
"Developments in Sovereign Finance: Crisis Management Needs a Clearer
Framework for Private Sector Involvement." September 2001 - Whitney Debevoise (Arnold & Porter).
"Today's
Emerging Markets: Building an Asset Class with More Meaningful Investor
Rights." February 15, 2001 - EMTA
Executive Director Michael Chamberlin.
"Burden-Sharing
in 2001: Now is the Time to Reform the Paris Club." February
13, 2001 - EMTA Policy Paper.
"Principles for Private Sector Involvement in Crisis Prevention and
Resolution." January 24, 2001 - Institute for International Finance.
"Financial Crises in the Emerging Markets: The Roles of the Public and
Private Sectors." November 2000 - Terrence J. Checki (Federal Reserve Bank of New York) and Ernest Stern (J.P. Morgan).
"Debt
Restructuring: Legal Considerations." October 30, 2000 - Eric
Lindenbaum and Alicia Duran (Merrill Lynch).
"Resolving
Financial Crises in Emerging Market Economies." October 23, 2000 - Timothy
F. Geithner (U.S. Treasury Undersecretary for International Affairs).
"All
for One and One for All: Burden Sharing Revisited." October 13,
2000 - Robin Hubbard (Chase Securities).
"What is the Best Way to Facilitate Sovereign Debt Workouts?" March 3,
2000 - Joyce Chang (Chase Securities).
"Ecuador: Beyond Comparability. From 'Burden Sharing' to 'Burden
Shifting'?'" August 28, 1999 - Michael Gavin (UBS
Warburg).
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