Term:
Debt reorganisation / Restructuring
Definition:
Any action officially agreed between creditor and debtor that alters the terms previously established for repayment. This may include forgiveness (extinction of the loan), or rescheduling which can be implemented either by revising the repayment schedule or extending a new refinancing loan.
Domain:
Finance
Source:
Glossary of Key Terms and Concepts. From the "Development Co-operation Report: Efforts and Policies of Members of the Development Assistance Committee".