Sovereign debt restructuring and debt sustainability
Subtitle: an analysis of recent cross-country experience
By: Harald Finger and Mauro Mecagni.
Contributors: Mecagni, Mauro.; International Monetary Fund.
Series: Occasional paper -- 255.; Occasional paper (International Monetary Fund) -- 255.
Publisher: International Monetary Fund
Published: 2007
Place of publication: Washington, DC
Language: eng
Number of pages: 39
ISBN-13: 9781589066106
Subjects: Debt relief -- Developing countries; Debts, Public -- Developing countries; Debt service -- Developing countries; Financial crises -- Developing countries
Description: "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 crisis.  In recent years, a number of countries -- including Argentina, the Dominican Reputlic, Ecuador, Moldova, Pakistan, Russia, Ukraine, and Uruguay -- have had to restructure their sovereign liabilities, either following a default, or preemptively to avoid a default. This study takes stock of these countries' experiences 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, and the analysis is based on information available as of late 2005..." -- preface, v.
Notes: Includes bibliographical references (p. 36-37).