The working perimeter remains the roughly USD 240 billion figure the Financial Times reported on June 24, 2026, materially above the market's prior range of USD 150-200 billion and the largest sovereign restructuring on record if confirmed. It has still not been formally disclosed. The macroeconomic framework promised for June, sizing GDP near USD 100 billion, and the debt sustainability analysis prepared by Centerview rather than authored by the IMF, both remain outstanding in mid-September, a full quarter past the original commitment. […]