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1、本科畢業(yè)論文（設(shè)計(jì)）外文翻譯外文題目Howtotackledebtrestructuringinemergingmarkets/Mappingthedangersofdebtrestructuring外文出處國(guó)際金融法律評(píng)論/國(guó)際稅務(wù)回顧外文作者卡格曼.史蒂文/克隆普.赫侖納原文：HowtotackledebtrestructuringinemergingmarketsThepresentslowdownintheglobaleconomyhasfocusedrenewedattentionontheissueofrestructuringtroubledloansinemerging
2、markets.Debtrestructuringsinthesemarketsoftenrepresentauniqueamalgamoflegal,business,financialandstrategicissues.TRYINGTOMAKETIMELYINTHERESTRUCTURINGPROCESSManyemergingmarketrestructuringscan,forvariousreasons,easilytakeafewyearstocomplete,andthecreditorsanddebtormayhavesharplydivergentperspecti
3、vesonwhetheritisintheirfundamentalinteresttoachievearelativelyquicksolution.Itisnotuncommoninrestructuringsituationsfordebtorstobelievethattimeisontheirside,andthisperceptiononthepartofdebtorsisoftengroundedinreality.Bycontrast,thecreditorsmaygenerallyviewtimeastheirenemy.Sincemanyrestructurings
4、involvesomeformofdebtservicemoratoriumordebtstandstill,thecreditorswillbeanxioustoreacharestructuringsolutionaspromptlyaspossible.Thecreditorsobviouslywillwanttheirdebtservicepaymentstoresumeattheearliestpossibledate.Thedebtor,ontheotherhand,maybelessmotivatedtokeeptheprocessmovingforwardwithany
5、typeofalacrity.Assumingthatitcancontinuetomeetitsworkingcapitalandotherbasicneedsandotherwisecontinuetofunctionasagoingconcern,somedebtorsmaybeperfectlycontenttomaintainadebtservicemoratoriumordebtstandstill.Byforegoingdebtservicepayments,thedebtormaybeabletoaccumulatesomecashonhand,whichmaywell
6、bebeyondthereachorcontrolofthecreditors.Undersuchcircumstances,itisnotinconceivablethatcertaindebtorsmaythereforeberelativelyuninterestedinactivelypursuingandreachingarestructuringsolutionwiththeircreditors.However,itshouldbenotedthatcertainlynotalldebtorswillbehavethisway.Debtors,forexample,tha
7、taregenuinelyconcernedabouttheirlong-termreputationalinterestsand,inparticular,theirabilitytotapthecapitalandcreditmarketsinthefuturemaytakealesscavalierattitudetowardsadvancingtherestructuringprocess.TIMETABLESInlightofthes
