In the late 1980s, the then U.S. Treasury Secretary helped to get Latin American debts to the major commercial banks converted into U.S. government-backed bonds. These bonds are called:
A) High-yield bonds.
B) Brady bonds.
C) Junk bonds.
D) Municipal bonds.

Question

Quizplus · Accepted Answer

In the late 1980s, US Treasury Secretary Nicholas Brady initiated a plan to address the debt crisis in Latin America by converting their commercial bank debt into US government-backed bonds. These bonds were named after him and widely known as "Brady bonds." Therefore, option B is the correct choice. High-yield bonds and junk bonds do not relate to this specific event, while municipal bonds are issued by local governments in the US and have no connection to the Latin American debt crisis.

In the Late 1980s, the Then U