Policy Papers

Strengthening the Contractual Framework to Address Collective Action Problems in Sovereign Debt Restructuring

September 2, 2014

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Format: Chicago

Strengthening the Contractual Framework to Address Collective Action Problems in Sovereign Debt Restructuring, (USA: International Monetary Fund, 0) accessed December 11, 2024

Summary

This paper identifies contractual reforms designed to address collective action problems in sovereign debt restructuring. Since any decisions regarding the design of contractual provisions will need to be made by the sovereign issuer and its creditors, it is recognized that the Fund’s primary role will be to facilitate agreement on the design and use of these provisions.

Subject: Bonds, Collective action clauses, Debt restructuring, Sovereign debt

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