a procedure of the International Monetary Fund aimed at settling the foreign currency liabilities of over-indebted countries vis-à-vis private creditors. – See London Club, Prague Proclamation, debt restructuring. – Cf. 2002 Annual Report of the Deutsche Bundesbank, pp. 105 ff.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
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