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Ep 135 ft. Ben Heller
Clauses & Controversies
Incentivizing Transparency for Credible Bonds
In order to create bonds with credibility, adjustments must be significant enough to counter the effects of negative actions or declining credit quality. It is impossible to effectively insure a country's creditors against its own declining credit worthiness. Offering a slight reduction in coupons (25 basis points) in return for meeting transparency criteria is a smart approach to aligning interests.
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