of Restructuring III Sovereign Debt Restructuring and Debt Sustainability Criteria for Assessing Debt Sustainability The Current Debt Level and Related Vulnerabilities Vulnerabilities Stemming from Liquidity Needs Medium-Term Debt-Related Vulnerabilities Summary for the Eight Countries IV Conclusions Appendixes I.The Role of the IMF II.Outcomes of Recent Restructurings III.Debt Decompositions in the Post-Restructuring Phase IV.Public Debt Ratios and Probabilities of Debt Crises v PrefaceIn the difficult circumstances where a sovereign debt restructuring becomes unavoidable, 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-including Argentina, the Dominican Republic, Ecuador, Moldova, Pakistan, Russia, Ukraine, and Uruguay-have had to restructure their sovereign liabilities, either following a default, or preemptively to avoid a default.This study takes stock of these countries' experiences with debtrestructuring 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, and the analysis is based on information available as of late 2005.
Stored only when both papers are in the corpus — 65 citations exist upstream.
Imported from OpenAlex (CC0) — nothing here is generated.