International debt-thinking about the longer term - Governors speech to the Overseas Bankers Club

Quarterly Bulletin 1984 Q1
Published on 01 March 1984

The Governor looks at measures which might relieve problems in the longer term. He argues that:

  • capital flows which do not add to the developing countries' burden of debt, particularly inward direct investment, could usefully make a greater contribution to financing needs;
  • banks can continue to help by responding to successful adjustment measures taken by debtor countries by reducing spreads;
  • banks could also help by lengthening maturity and grace periods to spread out debtors' servicing burdens-and by restructuring two or three years' debt at a time; and
  • banks need to recognise in their balance sheets the deterioration that has occurred in the quality of certain assets.

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