Strengthening the Contractual Framework to Address Collective Action Problems in Sovereign Debt Restructuring »
Series: Policy Papers
Author(s): International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 09 February 2014
Keywords: Bonds, Collective action clauses, Debt restructuring, Sovereign debt, Public debt management, Bond issues, Sovereign debt restructuring, International capital markets, Interest rate reductions, passu
This paper identifies contractual reforms designed to address collective action problems in sovereign debt restructuring. Since any decisions regarding the design of contractual provisions will need to be made by t...