A lower rate would strengthen incentives for investment and job creation in the US, and weaken incentives for tax avoidance. It would also reduce numerous efficiency reducing distortions in the US tax code, including substantial tax advantages for debt financing over equity financing and for non corporate businesses over corporate businesses.

IV. Foreign debt, expansion of grant financing

A deal was finally reached in June 1998 on the restructuring of interbank debt, corporate debt and trade credits.

In addition to estimating financing gaps and identifying the sources of financing (including different scenarios of debt rescheduling), DSA includes an analysis of debt dynamics to determine the stability of debt to GDP or debt to government revenue ratios.

(v) Identification of a feasible debt financing instrument and securitisation and

Developing countries also had to be given debt relief, including grant based financing and 100 per cent debt cancellation.

What the market is saying is not that the economy has too much debt, but that it has too much private debt, which is why prices of corporate bonds are low and firms find financing expensive. The market is also saying clearly and repeatedly that the economy has too little public US government debt, which is why everyone wants to hold it.

Questions related to the financing of Africa's development and debt were also discussed.

Additional financing was also needed to enable developing countries to achieve debt sustainability.

We must also bear in mind the role that debt plays as a financing tool for development debt financing is appropriate only where there is a reasonable expectation that loans will be repaid.

Poor s found that, a year later, these firms total debt amounted to 14.2 trillion, eclipsing the 13.1 trillion of outstanding debt in the United States and making China the world s largest issuer of corporate debt.

In addition, progress in the work on trade, debt and financing issues was important.

13. The external debt crisis was closely linked to the inadequacy of development financing.

Clearly, current debt relief initiatives enable our countries to use precious resources for financing development, but they do not ensure our debt sustainability.

Debt markets would also benefit from such an initiative. Blurring the line between the private and the state owned sectors would, over time, reduce the latter s privileged access to and overuse of bank financing, leading to the expansion of corporate bond markets.

The Government followed up on the debt restructuring by directing the banks to arrange corporate restructuring of distressed indebted firms.

7. Emphasizes in this regard that debt relief does not replace other sources of financing

7. Emphasizes in this regard that debt relief does not replace other sources of financing

His Government, which was extremely interested in the question of external debt, would participate in the financing of the Heavily Indebted Poor Countries Debt Initiative.

48. The problem of external debt was closely linked to the issue of financing for development.

Public and publicly guaranteed debt rose moderately, while bond financing fell dramatically by 40 per cent.

The value of innovative sources of financing for development had been recognized and agreement had been reached on considering additional measures to ensure long term debt sustainability through increased grant based financing, cancellation of the official multilateral and bilateral debt of Heavily Indebted Poor Countries, and debt relief or restructuring for low income and middle income developing countries with unsustainable debt burdens.

How is that possible? As corporate finance experts have been saying for 30 years, having too much debt and too little equity is costly, so reducing the face value of debt can sometimes benefit not only equity holders, but also debt holders.

While the international strategy for improving the debt situation had helped many countries regain access to external financing, the debt situation of the poorest countries remained critical.

(i) Mobilization of resources and financing of development debt reduction, internal resources, additional external resources and partnership

Before the end of the process, which is called the completion point , when the full debt relief is accorded, an eligible country receives substantial financing and debt relief.

(g) Bolivia External debt and its influence in the eradication of poverty entailment with commerce, financing and poverty

For their part, developed countries must deliver on their pledges to boost financing for development and relieve debt.

International Conference on Financing for Development, Monterrey, Mexico, March 18 22, special focus on thematic issue International Debt.

Reaffirming the Monterrey Consensus of the International Conference on Financing for Development, which recognizes sustainable debt financing as an important element for mobilizing resources for public and private investment,

Grundsatzkommission Corporate Governance (German Panel for Corporate Governance) (2000). Corporate Governance Rules for German Quoted Companies.

Argentina s interests and those of its creditors were thus aligned both wanted growth. It was the equivalent of a Chapter 11 restructuring of American corporate debt, in which debt is swapped for equity, with bondholders becoming new shareholders.

In addition to specific advice on the establishment of NDFs and other facilities, analysis and advice would be provided in a number of areas, including (i) domestic resource mobilization (ii) private sector financing (iii) charitable financing and (iv) debt management, including quot debt swaps quot where applicable.

The role of the corporate sector, and corporate strategies

2. Emphasizes the special importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries, since debt financing and relief can contribute to economic growth and development

Donors as well as recipients must ensure consistency between financing and absorptive capacity. They must also ensure that additional official financing and debt relief will not distort incentives or create moral hazard.

It would be preferable to prepare one main report on financing for development, particularly on the system for financing the debt, which would include all the conclusions, and provide a coherent overview.

sponsors a monthly advocacy project of contacting governments and global institutions regarding timely UN issues, e.g. fair trade, human rights, environmental issues, debt relief, corporate responsibility, etc.

Statement on Global Corporate Governance Principles. International Corporate Governance Network.

IMF staff have produced a number of reports on corporate insolvency, bank insolvency and the restructuring of unsustainable sovereign debt, including Orderly and Effective Insolvency Procedures Key Issues (1999) (analysing major policy choices to be addressed in the design of an effective corporate insolvency system).

There is a greater need for the countries to try to make debt finance a positive source of financing for development.

30. Mr. Winnick (United States of America) said that partnership was key to both the financing of development and external debt.

36. He was pleased to confirm that the Russian Government had decided to participate in the financing of the debt initiative.

Corporate strategy

Corporate responsibility