This paper presents an assessment of the results of Brady plans for debtor countries which have implemented such agreements (Costa Rica, Mexico, the Philippines, Uruguay and Venezuela). It shows that the relatively successful Mexican case cannot be generalized, due to the great diversity of the agreement signed. It appears that the Brady accords lead to substantial debt reductions for Costa Rica and Mexico only. Debt reduction for the other countries considered is very modest. Hence, a case-by-case analysis is essential. Moreover, macroeconomic simulations are presented, providing an assessment of the short-term growth effects of the Brady plan. These effects appear to be very limited. -Author</p
