Sovereign Debt Restructuring and Debt Sustainability: An Analysis of Recent Cross-Country Experience
Business & Finance, Economics, Public Finance, Finance & Investing, Banks & Banking, Macroeconomics
| Author: | Harald Mr. Finger, Mauro Mr. Mecagni | ISBN: | 9781452724096 |
| Publisher: | INTERNATIONAL MONETARY FUND | Publication: | April 10, 2007 |
| Imprint: | INTERNATIONAL MONETARY FUND | Language: | English |
| Author: | Harald Mr. Finger, Mauro Mr. Mecagni |
| ISBN: | 9781452724096 |
| Publisher: | INTERNATIONAL MONETARY FUND |
| Publication: | April 10, 2007 |
| Imprint: | INTERNATIONAL MONETARY FUND |
| Language: | English |
Restoring a country's debt to a sustainable path after a sovereign debt restructuring is key to ensuring a credible and durable exit from the crisis. In recent years, a number of countries have restructured their sovereign liabilities, either following a default, or preemptively, to avoid a default. This Occasional Paper takes stock of the experiences of some of these countries--Argentina, the Dominican Republic, Ecuador, Moldova, Pakistan, Russia, Ukraine, and Uruguay--with debt-restructuring operations, with a view to assessing the outcomes and whether debt sustainability has been restored. The emphasis of the study is on sovereign debt owed to private creditors.
Restoring a country's debt to a sustainable path after a sovereign debt restructuring is key to ensuring a credible and durable exit from the crisis. In recent years, a number of countries have restructured their sovereign liabilities, either following a default, or preemptively, to avoid a default. This Occasional Paper takes stock of the experiences of some of these countries--Argentina, the Dominican Republic, Ecuador, Moldova, Pakistan, Russia, Ukraine, and Uruguay--with debt-restructuring operations, with a view to assessing the outcomes and whether debt sustainability has been restored. The emphasis of the study is on sovereign debt owed to private creditors.
