An orderly sovereign debt restructuring should place the debtor nation’s public debt on a sustainable trajectory while minimizing procrastination and contagion. However, the experiences with the debt crisis of the 1980s, Russia 1998, Argentina 2001, and Greece 2010 indicate that orderly debt restructurings remain elusive, even with high-powered official intervention. When solvency problems are present, the chances of success increase if official money...
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详细
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2014/01/13
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日志文章
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112510
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1
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1
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2017/03/02
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Disclosed
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Orderly sovereign debt restructuring : missing in action! (and likely to remain so)
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private creditor