Progress Report to the International Monetary and Financial Committee on Crisis Resolution
April 20, 2004

Collective Action Clauses: Recent Developments and Issues
March 25, 2003

The IMF and the Private Sector—A Factsheet

See also:
Strengthening the International Financial Architecture: Sovereign Debt Restructuring Mechanism (SDRM)—A Factsheet

Documents Related to the International Monetary and Financial Committee (IMFC) Meeting
September 21, 2003

Progress Report to the International Monetary and Financial Committee (IMFC) on Crisis Resolution

September 5, 2003

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Contents

I.   Introduction
II.   Collective Action Clauses
  A. Developments in Issuance
  B. Design of Recent CAC Issues
  C. Encouraging the Use of CACs
III.   Code of Conduct
IV.   Conclusions
Tables
Table 1. Emerging Markets Sovereign Bond Issuance1
Table 2. Emerging Market Sovereign Bonds Outstanding Issuance
Boxes
Box 1. Pricing of Bonds With CACs Issued Under New York Law
Box 2. Uruguay: Novel CAC Features in Recent Bond Issues