The norms surrounding the seniority of official-sector creditors in sovereign debt restructurings contain significant ambiguities. As a result, stakeholders often disagree about the relative treatment of different institutions, delaying the restructuring process and potentially increasing the cost of official-sector financing for emerging market countries. This paper proposes a transparent and tractable framework for guiding the seniority of official claims. The framework would facilitate timely resolution of debt crises and incentivize concessional development finance. […]