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The International Architecture for resolving Sovereign Debt involving private-sector creditors—recent developments, challenges, and reform options

The International Architecture for resolving Sovereign Debt involving private-sector creditors—recent developments, challenges, and reform options

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.