| Description |
1 online resource (26 pages) : illustrations |
| Series |
IMF working paper ; WP/11/85 |
|
IMF working paper ; WP/11/85
|
| Contents |
Cover Page; Title Page; Copyright Page; Abstract; Contents; I. Introduction; II. The Case for Government Intervention in Debt Restructuring; III. Stylized Facts; A. The Credit Boom; B. The Unwinding of the Credit Boom; C. Progress in Debt Restructuring; 1. Cost of a Bankruptcy Process in Different Countries in 2010; IV. Government Involvement in Debt Restructuring; A. Experience with Debt Restructuring in Other Countries; B. The Case for Government Intervention in Debt Restructuring in Latvia; C. The Authorities' Efforts to Facilitate Market-Based Debt Restructuring; V. Conclusions |
|
1. Options for Corporate Debt Restructuring in Latvia2. Insolvency Procedures for Individual Debtors in Latvia; References; Footnotes |
| Summary |
This paper reviews Latvias efforts to manage the increase in debt distress resulting from the unwinding of the 2000-07 credit boom and spillovers from the global financial crisis. The authorities have designed a strategy that strengthens incentives for marked-based debt resolution by improving the legal framework for credit enforcement, introducing tax incentives for debt write-downs, and strengthening financial sector supervision. These measures have started to yield results, but further steps are needed to speed up bankruptcy procedures and reduce credit enforcement costs. Latvias experience with market-based debt resolution may provide insights on managing debt distress in other countries with limited fiscal resources |
| Bibliography |
Includes bibliographical references |
| Subject |
Corporate debt -- Latvia.
|
|
Debt relief -- Latvia.
|
|
Debt -- Latvia.
|
|
Households -- Latvia.
|
| Form |
Electronic book
|
| Author |
Liu, Yan, 1967- author
|
|
Saxegaard, Magnus, author
|
|
International Monetary Fund, issuing body
|
| ISBN |
1283558394 |
|
1455260312 |
|
1462305156 |
|
9781283558396 |
|
9781455260317 |
|
9781462305155 |
|
