The type of bonds that are swapped to less developed country against an outstanding loan are classified as ____________?
Correct answer: A. Brady bonds
- A. Brady bonds
- B. swapped bonds
- C. developed bonds
- D. developing bonds
Explanation
Brady bonds were issued in the 1980s and 1990s to restructure developing countries' outstanding commercial bank loans. They are named after U.S. Treasury Secretary Nicholas Brady.
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