Improving Sovereign Debt Restructurings
54 Pages Posted: 27 Nov 2019
Date Written: November, 2019
Abstract
The wave of sovereign defaults in the early 1980s and the string of debt crises in subsequent decades have fostered proposals involving policy interventions in sovereign debt restructurings. The global financial crisis and the recent global pandemic have further reignited this discussion among academics and policymakers. A key question about these policy proposals for debt restructurings that has proved hard to handle is how they influence the behavior of creditors and debtors. We address this challenge by evaluating policy
Keywords: Crises, GDP-indexed Debt, Distribution of Creditor Losses, Default, Sovereign Debt, Maturity, Restructuring, Country Risk, International Monetary Fund
JEL Classification: F34, F41, G15
Suggested Citation: Suggested Citation