Public Information Notice: IMF Board Discusses Possible Features of A Sovereign Debt Restructuring Mechanism,
April 3, 2003

Crisis Resolution in the Context of Sovereign Debt Restructuring - A Summary of Considerations
January 28, 2003

More Information on Sovereign Debt Restructuring

Strengthening the International Financial Architecture: Sovereign Debt Restructuring Mechanism (SDRM)—A Factsheet

The IMF and the Private Sector—A Factsheet

Proposed Features of a Sovereign Debt Restructuring Mechanism

Prepared by the Legal and Policy Development and Review Departments in consultation with International Capital Markets and Research Departments

February 12, 2003

Use the free Adobe Acrobat Reader to view the full text of 240kb pdf file.



I. The SDRM: Objectives, Principles and Design
A. Objectives and Principles
B. Scope of Claims
C. Activation
D. Consequences of Activation
E. Creditor Participation: Organization, Voting and Decisions
F. Sanctions
G. Termination
H. The Sovereign Debt Dispute Resolution Forum
I. Legal Basis of the SDRM


Code of Conduct and the SDRM


Issues for Discussion