Draft Proposal for a Foreign Sovereign Debt Restructuring Law

9 Pages Posted: 5 Aug 2022

Date Written: July 16, 2022

Abstract

Reflecting widespread concern as to the effectiveness of the G20 Common Framework, the paper presents a short proposal for domestic legislation to facilitate the enforcement of automatic stays and comparable treatment of private creditors in sovereign debt restructurings. It builds on recent recommendations from the IMF and the World Bank for the implementation and expansion of the Common Framework, and on increasing support from practitioners and academics for domestic legislation as a crucial element for the improvement of the international financial architecture.

Keywords: Sovereign Debt Restructuring, Common Framework, Comparability of Treatment, Domestic Legislation

JEL Classification: F34

Suggested Citation

Reichert-Facilides, Daniel, Draft Proposal for a Foreign Sovereign Debt Restructuring Law (July 16, 2022). Available at SSRN: https://ssrn.com/abstract=4164656 or http://dx.doi.org/10.2139/ssrn.4164656

Daniel Reichert-Facilides (Contact Author)

Institute for Law and Finance ( email )

Gr├╝neburgplatz 1
Frankfurt am Main, 60323
Germany

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