Macroeconomic variables and changes in foreign reserves affect the secondary market price of Brady bonds in Bulgaria. So do changes in the external environment, including crises in other parts of the world. - To analyze the main determinants of secondary market prices of Bulgarian Brady bonds,...

Poland edged towards hyperinflation towards the latter half of 1989,but inflation fell dramatically after drastic reformswere enacted in January of 1990. We analyse the consistency betweenfiscal deficits and inflation targets and assess Poland's domestic and foreign debt management policies and...

To analyze the main determinants of secondary market prices of Bulgarian Brady Bonds, the authors investigate to what extent fluctuations in domestic fundamentals affect the bonds secondary market price. They also assess the extent to which external shocks affect the bonds prices. They estimate...