What is the difference between a fiscal policy and a monetary policy from a financial perspective

What is the difference between a financial workout and a financial restructuring Introduction: Navigating the Complexities of Finance Hello everyone, and welcome to our video. Finance is a vast and intricate domain, with numerous strategies and tools. Today, we'll be focusing on two such strategies - financial workout and financial restructuring. While they both deal with financial challenges, their approaches and outcomes diverge significantly. Financial Workout: A Collaborative Approach to Debt Resolution A financial workout is essentially a negotiation between a debtor and a creditor to resolve a debt issue. It's a more informal and flexible process, often initiated when a debtor is facing temporary financial difficulties. The goal of a workout is to find a mutually agreeable solution that allows the debtor to repay the debt while also ensuring the creditor recovers a significant portion of the amount owed. This can involve modifying the terms of the debt, such as extending the repayment period or reducing the interest rate. Financial Restructuring: A Comprehensive Overhaul In contrast, financial restructuring is a more extensive and formal process. It typically occurs when a debtor's financial situation is more severe and requires a comprehensive overhaul. Restructuring involves not just modifying the terms of the debt but also reorganizing the debtor's entire financial structure. This can include actions like renegotiating contracts, selling assets, or even changing the business's core operations.