Series: IMF Working Papers
Author(s): Patrick Bolton , and Olivier Jeanne
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 August 2007
Keywords: Sovereign Debt Restructuring Mechanism (SDRM), debt structure, sovereign debt restructuring, debt renegotiations, Sovereign Debt Restructuring Mechanism (sdrm) Mechanism (sdrm),
In an environment characterized by weak contractual enforcement, sovereign lenders can enhance the likelihood of repayment by making their claims more difficult to restructure ex post. We show however, that competi...