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Monday, August 10, 2020 | History

4 edition of Sovereign debt restructuring and debt sustainability found in the catalog.

Sovereign debt restructuring and debt sustainability

an analysis of recent cross-country experience

by Harald Finger

  • 72 Want to read
  • 18 Currently reading

Published by International Monetary Fund in Washington, DC .
Written in English

    Subjects:
  • Debt relief -- Developing countries,
  • Debts, Public -- Developing countries,
  • Debt service -- Developing countries,
  • Financial crises -- Developing countries

  • Edition Notes

    Includes bibliographical references (p. 36-37).

    StatementHarald Finger and Mauro Mecagni.
    SeriesOccasional paper -- 255., Occasional paper (International Monetary Fund) -- 255.
    ContributionsMecagni, Mauro., International Monetary Fund.
    Classifications
    LC ClassificationsHG3891.5 .F46 2007
    The Physical Object
    Paginationv, 39 p. :
    Number of Pages39
    ID Numbers
    Open LibraryOL17633424M
    ISBN 101589066103
    ISBN 109781589066106
    OCLC/WorldCa123423912

    4 Steven L. Schwarcz 13 Sovereign Debt Restructuring, supra note 9, at 14 ICMA has also proposed a new form of standard pari passu clause for sovereign debt securi- ties, responding to concerns that existing pari passu clauses are undermining Argentina’s debt-re-structuring efforts. See supra note 2 and accompanying text. I later examine that proposed clause. Sovereign Debt Restructuring and Debt Sustainability: An Analysis of Recent Cross-Country Experience. por Harald Mr. Finger,Mauro Mr. Mecagni. Occasional Papers (Book ) ¡Gracias por compartir! Has enviado la siguiente calificación y reseña. Lo publicaremos en nuestro sitio después de haberla : INTERNATIONAL MONETARY FUND.

    Sovereign debt crises involve debt restructurings characterized by a mix of face-value haircuts and maturity extensions. The prevalence of maturity extensions has been hard to reconcile with economic theory. We develop a model of endogenous debt restructuring that captures key facts of sovereign debt and restructuring episodes. debt sustainability and market access in a durable way’. To date, no EU-level legislation covers sovereign default or sovereign debt restructuring. Consequently, should any EU Member State face a problem with unstainable sovereign debt stock, each situation is solved on ad hoc basis. The lack of a transparent EU framework could entail additionalFile Size: KB.

    Debt restructuring is one of the policy tools available for resolving sovereign debt crises and, while unorthodox, it is not uncommon. We propose a scenario analysis for debt sustainability and integrate it with scenario optimization for risk management in restructuring sovereign debt. This paper examines the causes, processes, and outcomes of the two Belize sovereign debt restructurings in –07 and in –13, which occurred outside an IMF-supported program.


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Sovereign debt restructuring and debt sustainability by Harald Finger Download PDF EPUB FB2

In the Sovereign Debt section, there is detailed coverage of the New York litigation on the “pari passu” litigation and its interpretation in sovereign debt contracts.

Also, this section of the book analyses the adoption of single-limb CACs in the aftermath of the Greek restructuring as well as the proposal for creditor engagement clauses.5/5(1). Sovereign Debt Restructuring and Debt Sustainability: An Analysis of Recent Cross-Country Experience (Occasional Paper Book ) - Kindle edition by Finger, Harald, Mecagni, Mauro.

Download it once and read it on your Kindle device, PC, phones or tablets. Use features like bookmarks, note taking and highlighting while reading Sovereign Debt Restructuring and Debt Sustainability: An Analysis of Manufacturer: INTERNATIONAL MONETARY FUND.

Read "Sovereign Debt Restructuring and Debt Sustainability: An Analysis of Recent Cross-Country Experience" by Harald Mr.

Finger available from Rakuten Kobo. Restoring a country's debt to a sustainable path after a sovereign debt restructuring is key to ensuring a credible and Brand: INTERNATIONAL MONETARY FUND. Debt Sustainability Analyses (DSAs) are an important tool to assess the potential need and scope of a sovereign debt restructuring.

In essence, DSAs analyze the conditions under which a government’s primary balance (the budget balance excluding interest payments) is sufficientlyCited by: 2.

The forthcoming book from Oxford University Press and the IMF is designed to connect the multiple aspects of sovereign debt policy into one coherent text.

It will be accessible to policymakers and practitioners and will combine economic theory and analysis with real world examples of how this relates to actual events and policies.

approach to sovereign debt restructuring. There is a growing co nsen-sus that the present process for restructuring the debts of a sovereign is more prolonged, more unpredictable and more damaging to the country and its creditors than would be desirable.

Exploring ways to improve the sovereign debt restructuring process is a key part of the. In Section III we argue that changes in sovereign debt restructuring practices over the last decades reflect an increasing recognition of sovereign debt sustainability as a principle of public international law.

This principle expresses the now widely shared conviction that states need healthy financialFile Size: KB. I. INTRODUCTION. The current regime for sovereign debt restructuring 1 emerged in the late twentieth century as the outcome of policy initiatives undertaken by institutions dominated by the Group of Seven (G-7) wealthy nations.

2 Based on a combination of contract law and official intervention by the International Monetary Fund (IMF), sovereign debtors and their creditors have been largely Author: Vassilis Paliouras.

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. Sovereign Debt Restructuring and Debt Sustainability: An Analysis of Recent Cross-Country Experience (Occasional Paper Book ) eBook: Finger, Harald, Mecagni, Mauro: : Kindle StoreAuthor: Harald Finger, Mauro Mecagni.

This briefing provides an overview of the main issues relating to the restructuring of sovereign debt, and outlines the factors which impact the decision as to whether or not to proceed with debt restructuring.

Restructuring is a complex issue – it involves positive and negative aspects, which need to be analysed in order to be able to determine whether it can deliver any added value. Get this from a library. Sovereign debt restructuring and debt sustainability: an analysis of recent cross-country experience.

[Harald Finger; Mauro Mecagni; International Monetary Fund.] -- "In the difficult circumstances where a sovereign debt restructuring becomes unavoidable, restoring the country's debt to a sustainable path is key to ensuring a credible and durable exit from the.

[PDF] Sovereign Debt Restructuring and Debt Sustainability: An Analysis of Recent Cross-Country. “Sustainability” is a term that is now ubiquitous in global finance and investment, and for good reason. The principles it embodies – such as in the UN Sustainable Development Goals – speak to building a better world.

And those principles are deeply relevant when it comes to the sovereign debt of struggling developing countries. The principle of sustainability implies that sovereign debt restructuring workouts lead to a stable debt situation in the debtor state, preserving creditors' rights while promoting economic growth and sustainable development, minimizing economic and social costs, warranting the stability of the international financial system and respecting.

It covers a wide range of issues, from debt management to debt sustainability, debt reduction policies to sovereign debt restructuring, connecting history to the present, and illuminating actual. However, there is no global legal framework for orderly sovereign debt restructuring, which could complicate the resolution of public debt overhangs.

In Europe, there is a renewed discussion on whether Greek public debt should be restructured again, even though the bulk of Greek public debt is in the hands of official creditors and enjoys very. world with extensive experience in debt issuance, sustainability and restructuring.

Together with colleagues from the ALSF, these authors have created a resource that provides a well-balanced, multi-disciplined perspective on sovereign debt management in an easily digestible format.

IMF and IDA () “Debt Sustainability in Low-Income Countries – Proposal for an. Operational Framework and Policy Implications”, February 3. IMF (), ‘Cross-Country Experience with Restructuring of Sovereign Debt and Restoring Debt Sustainability’.

The world faces an unprecedented global Sovereign Debt Crisis triggered by the COVID pandemic as well as a Climate Crisis. Debt-for-Climate Swaps could be Author: Nishan Degnarain.

Request PDF | Sovereign Debt Restructuring and Debt Sustainability: An Analysis of Recent Cross-Country Experience | Assessing whether debt sustainability has been restored involves an evaluation.sovereign debt restructuring. EXECUTIVE SUMMARY This paper provides an overview of the main issues, debates and policy proposals that surround sovereign debt restructuring.

The first section outlines the basics of sovereign debt restructuring, including what it is, how it is done and when it has occurred. The second section reviews.evidence suggesting that sovereign debt restructuring relief amounts to date have been ‘too little’.

JEL Codes: F34, G01, H63 Keywords: Sovereign Debt, Sustainability, Restructuring 1.’Introduction The ultimate goal of sovereign debt restructuring is to restore the conditions for theFile Size: KB.