ECONOMIC ASPECTS OF DEBT FORGIVENESS FOR BANKS’ CLIENTS
Journal Title: Вісник Одеського національного університету. Економіка. - Year 2017, Vol 22, Issue 10
Abstract
The article is devoted to the analysis of economic aspects of forgiveness of the debt for the bank’s clients in countries with different level of financial market and possibilities of applying the best practice in the conditions of overcoming the financial crisis, improving the quality of bank assets, and restoring lending. This way of debt resolution is considered as a component of debt restructuring, the development of customer relations, and also from the point of view of the state approach to the settlement of problem debts. Debt forgiveness can take place in order to minimize the losses incurred by the creditor in the event of the borrower bankruptcy. This tool should also be included in the state crisis management programs to support the national economy by easing the debt burden for enterprises and households. Debt relief is allowed in exceptional cases where lenders are convinced that the borrower honestly made all efforts to repay the debt that financial difficulties arose from objective circumstances.
Authors and Affiliations
I. O. Golosenin
Keywords
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