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International Finance

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  • February 24, 2023
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Brady Bonds

US dollar- denominated bonds which were issued, mostly in the 1980s, by developing and underdeveloped countries, mainly in Latin America, to be exchanged for commercial bank loans in default. The bonds, named for former Bush Administration Treasury Secretary Nicholas Brady, are collateralized by U.S Treasury zero-coupon bonds to ensure principal.

For more details, see Brady Bonds (Finance).


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