Progress Report on Crisis Resolution

September 21, 2005

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  1. Introduction
  2. Collective Action Clauses
  3. Principles for Stable Capital Flows and Fair Debt Restructuring in Emerging Markets
  4. Update of Recent Debt Restructuring Cases
  5. Progress Under the Evian Approach and Other Paris Club Issues
  6. Assessing the Determinants and Prospects for the Pace of Market Access by Countries Emerging from Crisis


  1. Yields on Selected Recent Issues of US Dollar Bonds with CACs
  2. Emerging Market Outstanding Sovereign Issuance by Governing Law


  1. Dominican Republic: Financial Terms and Legal Features of the Debt Exchange
  2. The Paris Club’s Framework for Early Debt Repayment

Appendix Tables

  1. Emerging Markets Sovereign Bond Issuance by Jurisdiction
  2. Emerging Market Sovereign Bonds Outstanding Issuance by Governing Law
  3. Emerging Markets Sovereign Bonds—Outstanding Issuances by Region and Governing Law, 2002 and 2005
  4. Collective Action Clauses: G-10 Recommendations and Bonds Issued under New York Law Since March 2005
  5. Selected Countries: Debt Indicators, 1999-2004
  6. Argentina: New Bonds Issued, by Currency and Governing Law