A restructured commercial bank loan to poor countries, denominated in US dollars.
- General government debt has fallen fast, and this decline was further accelerated by the weaker US dollar and buy-backs of Brady bonds in 2004 and 2005.
- In March, the Government suggested that investors exchange Brady bonds for new Eurobonds, denominated in dollars or euro, or buy Eurobonds for cash.
- Bulgaria's debt deal, which includes the swop of $800 million worth of Brady bonds into dollar-denominated eurobonds maturing in 2015, was approved by Parliament last Wednesday.
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.