Resolving sovereign debt crises : the market-based approach and the role of the IMF

@inproceedings{BedfordResolvingSD,
  title={Resolving sovereign debt crises : the market-based approach and the role of the IMF},
  author={Adrian Penalver Paul Bedford and Chris Salmon}
}
99 SOVEREIGN DEBT CRISES in emerging market economies are not unusual and often impose significant costs on the parties directly involved. Moreover, historical episodes such as the Barings crisis in the 1890s, the Latin American debt crises of the 1980s, and the collapse of LTCM in 1998 show that sovereign debt crises also have the potential to catalyse instability in the global financial system. The challenge in restructuring sovereign debts Restructuring sovereign debts to private creditors… CONTINUE READING