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

by Harald Finger and Mauro Mecagni

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After a sovereign debt restructuring, restoring the country's debt to a sustainable path 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.
  • ISBN13 9781589066106
  • Publish Date 30 March 2007
  • Publish Status Active
  • Publish Country US
  • Imprint International Monetary Fund (IMF)
  • Format Paperback
  • Pages 90
  • Language English