Brady Plan Law and Legal Definition
Brady plan is a plan proposed by U.S. Treasury secretary Nicholas Brady in 1989 for lending by the International Monetary Fund, World Bank, and creditor governments. It is a strategy to reduce the amount of debt and interest owed to commercial banks by heavily-indebted countries. It aided to finance debtor country purchase of their foreign currency debt at the discounted prices at which the debt instruments were trading in secondary markets.
