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

April 10, 2007

Preview Citation

Format: Chicago

Harald Finger, and Mauro Mecagni. Sovereign Debt Restructuring and Debt Sustainability: An Analysis of Recent Cross-Country Experience, (USA: International Monetary Fund, 2007) accessed November 21, 2024

Summary

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.

Subject: Asset and liability management, Bonds, Debt restructuring, Debt sustainability, External debt, Financial institutions, Financial sector policy and analysis, Public debt, Sovereign debt restructuring, Stress testing

Keywords: Africa, Bonds, Debt, Debt profile, Debt ratio, Debt restructuring, Debt sustainability, Debt vulnerability, Debt-sustainability assessment, Global, Inferred crisis probability, Liquidity position, OP, Public debt crisis, Ratio, Solvency problem, Sovereign debt restructuring, Standard error, Stress testing

Publication Details

Pages:

45
Volume:

---
DOI:

---
Issue:

---
Series:

Occasional Paper No. 2007/003
Stock No:

S255EA
ISBN:

9781589066106
ISSN:

0251-6365

Supplemental Resources

Link to Abstract
pdf

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

Occasional Papers