Series: Policy Papers
Author(s): International Monetary Fund. Monetary and Capital Markets Department
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 06 May 2012
Keywords: Debt restructuring, Emerging markets, Financial stability, Sovereign Debt Restructuring Mechanism, Financial markets, Sovereign debt restructuring, Financial institutions, Macroprudential policies and financial stability, Domestic debt, debt restructure
This paper takes stock of past episodes of debt restructuring and reviews the relevant literature. Based on cross-country experience from the late 1990s through 2010 of emerging markets it offers some stylized fact...