Cover Sovereign Debt Restructuring and Debt Sustainability
Sovereign Debt Restructuring and Debt Sustainability
An Analysis of Recent Cross-Country Experience
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Abstract

Restoring a country's debt to a sustainable path after a sovereign debt restructuring is key to ensuring a credible and durable exit from the crisis. In recent years, a number of countries have restructured their sovereign liabilities, either following a default, or preemptively, to avoid a default. This Occasional Paper takes stock of the experiences of some of these countries--Argentina, the Dominican Republic, Ecuador, Moldova, Pakistan, Russia, Ukraine, and Uruguay--with debt-restructuring operations, with a view to assessing the outcomes and whether debt sustainability has been restored. The emphasis of the study is on sovereign debt owed to private creditors.

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Author:
Mr. Harald Finger
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and
Mr. Mauro Mecagni
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Series:
Occasional Papers
Publisher:
International Monetary Fund
Language:
English
Publication Date:
10 Apr 2007
DOI:
https://doi.org/10.5089/9781589066106.084
ISBN:
9781589066106
ISSN:
0251-6365
Pages:
45
Keywords:
OP; debt; debt ratio; debt-sustainability assessment; inferred crisis probability; ratio; liquidity position; public debt crisis; standard error; Debt restructuring; Sovereign debt restructuring; Bonds; Debt sustainability; Global; Africa; debt profile; debt vulnerability; solvency problem; Stress testing
Legal-disclaimer:
The views expressed in this book are those of the authors and should not be reported as or attributed to the International Monetary Fund, its Executive Board, or the governments of any of its member countries.
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