Concessional Restructuring

Categories: Economics,

debt restructuring with a reduction in present value of the debt service. In the context of the paris club, concessional restructuring terms have been granted to low-income countries since October 1988 with a reduction in the present value of eligible debt of up to one-third (toronto terms); since December 1991, with a present value reduction of up to one-half(london terms or enhanced concessions or enhanced toronto terms); and, since January 1995, with a present value reduction of up to two thirds (naples terms). In the context of the HIPC Initiative, creditors agreed in November 1996 to increase the present value reduction to up to 80 percent(lyon terms) and then in June 1999 to 90 percent (Cologne terms). Such restructuring can be in the form of flow restructuring or stock-of-debt operations. While the terms (grace period and maturity) are standard, creditors can choose from a menu of options to implement the debt relief.

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Definition / Meaning of

Flash Mob

Categories: Business and Management,

A secretly-planned (usually via modern computerised social networking technology), quickly-formed, organized group of people, assembled to engage in a quirky activity, typically for the amusement and entertainment of the participants. Potentially the term may be applied to similar gatherings organized for more conventional promotional, protest or other publicity/pressure purposes, although this strays somewhat from the usual concept, in which the flash mob event is an aim in itself, rather than part of a wider campaign with a specific purpose. The expression is not new. It originated in the 1940s US underworld when it referred to a gang of thieves or confidence tricksters. The word flash has been used in various criminal contexts since the 1600s and in the original 1940s phrase flash mob, flash literally meant criminal. The modern use of the flash mob expression naturally fits the notion of flash photography, a fast or fleeting appearance, a 'flash of inspiration', and especially the recent understanding of flash in relation to quick technology such as flash memory and flash drives. See also mob.

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Concessional Restructuring

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Flash Mob

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