Views from the Center
April 16, 2009
Liberia Cuts its Debt with $1.2 Billion Buy-Back at 97 Percent Discount
In a huge step forward, this week Liberia slashed its foreign debt by buying back $1.2 billion in commercial debt -- about one-quarter of its foreign debt -- from its private foreign creditors, including banks, hedge funds, and other “distressed debt” investment funds.
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