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Debt Restructuring

Experience with recent sovereign external debt restructuring suggests that a more comprehensive approach to sovereign debt restructuring is needed. Progress has been achieved in introducing Collective Action Clauses in the international bond issues of emerging market economies. Despite the progress achieved, more work is still required on timely, orderly and effective restructurings that ensure an appropriate involvement of the private sector.

Complete List of Documents in this Section

Title
Author
Jeromin Zettelmeyer, Emilios Avgouleas, Barry Eichengreen, Miguel Poiares Maduro, Ugo Panizza, Richard Portes, Beatrice Wederdi Mauro, Charles Wyplosz
Gong Cheng, Javier Díaz-Cassou, Aitor Erce