The International Architecture for Resolving Sovereign Debt Involving Private-Sector Creditors—Recent Developments, Challenges, And Reform Options

October 1, 2020

Summary

There have been significant developments in sovereign debt restructuring involving private-sector creditors since the IMF’s last stocktaking in 2014. While the current contractual approach has been largely effective in resolving sovereign debt cases since 2014, it has gaps that could pose challenges in future restructurings.

Subject: Asset and liability management, Bonds, Debt restructuring, Financial institutions, International bonds, Public debt, Sovereign bonds, Sovereign debt restructuring

Keywords: Asia and Pacific, Bonds, debt management, debt restructuring, Debt restructuring, debt service, debt transparency, domestic law, enhanced CACS, exchange offer, foreign currency, International bonds, PP, restructuring negotiations, secondary market, sovereign bond, Sovereign bonds, Sovereign debt restructuring, vulture fund debt speculation

Pages:
52
Volume:
2020
DOI:
https://doi.org/10.5089/9781513557472.007
Issue:
043
Series:
Policy Paper No. 2020/043
Stock No:
PPEA2020043
ISBN:
9781513557472
ISSN:
2663-3493

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