Chapter2012

Sovereign Workouts: An IMF Perspective

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Global Financial Crisis and Policies Corporate Insolvency and Governance Fiscal Policies and Political Economy

Abstract

AbstractThe following sections are included:IntroductionThe ProblemUnsustainable Debt and its ImplicationsThe Barriers to RestructuringThe policies of the sovereign debtorCollective action problemsReforming the Legal FrameworkCollective Action ClausesThe SDRMThe Role of the IMFConclusions

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