Sovereign Debt Restructuring and Debt Sustainability: An Analysis of Recent Cross-Country Experience
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Summary:
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.
Series:
Occasional Paper No. 2007/003
Subject:
Asset and liability management Bonds Debt restructuring Debt sustainability External debt Financial institutions Financial sector policy and analysis Public debt Sovereign debt restructuring Stress testing
English
Publication Date:
April 10, 2007
ISBN/ISSN:
9781589066106/0251-6365
Stock No:
S255EA
Pages:
45
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