Front Matter

Front Matter

International Monetary Fund
Published Date:
January 1992
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© 1992 International Monetary Fund

Charts and Cover Design: IMF Graphics Section

Private market financing for developing countries / by a staff team from the Policy Development and Review Department; Charles Collyns … [et al.].

p. cm—(World economic and financial surveys)

“December 1992.”

ISBN 1-55775-318-0

ISSN 0258-7440 = World Economic and Financial Surveys

1. Loans, Foreign—Developing countries. 2. Debts, External—Developing countries. 3. Debt relief—Developing countries. 4. Debt conversion—Developing countries. I. Collyns, Charles. II. International Monetary Fund. Policy Development and Review Dept. III. Series.

HG3891.5.P75 1992 92—38191

336.3’435’091724—dc20 CIP

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The following symbols are used throughout this paper:

… to indicate that data are not available;

— to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;

– between years or months (e.g., 1992–93 or January–June) to indicate the years or months covered, including the beginning and ending years or months;

/ between years (e.g., 1992/93) to indicate a crop or fiscal (financial) year.

“Billion” means a thousand million.

Minor discrepancies between constituent figures and totals are due to rounding.

The term “country,” as used in this paper, does not in all cases refer to a territorial entity that is a state as understood by international law and practice. The term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.


This study was prepared in the Policy Development and Review Department of the International Monetary Fund, under the direction of Charles Collyns, Chief of the Debt and Program Financing Issues Division. Its authors are John Clark, Robert Feldman, Ahsan Mansur, Paul Mylonas, Karen Parker, Susan Prowse, Robert Rennhack, and Philippe Szymczak, economists in the Division. The study updates information and analyses contained in Private Market Financing for Developing Countries, World Economic and Financial Surveys (Washington: IMF, December 1991). The study was completed in September 1992 and reflects developments to that time.

Background for the study was provided in part by informal discussions with commercial and investment banks and regulatory and monetary authorities in Frankfurt, London, New York, and Paris in May–June 1992. The work benefited from comments by staff in other departments of the IMF and by members of the Executive Board. Opinions expressed, however, are those of the authors and do not necessarily represent the views of the IMF or its Executive Directors.

Louis Pauly prepared the text for publication. The authors are also grateful to Anne Jansen for excellent research assistance, and to Delrene Alvis, Ana Knowles, and Lucia Smillo for their valuable word processing services. David M. Cheney, of the External Relations Department, gave the manuscript a final editing and coordinated production.

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