Recent developments in sovereign debt restructuring: a step in the right direction?

Kirsten Erichsen and Andrew J. Wilkinson examine recent developments in sovereign debt restructuring in an article published today in Corporate Rescue and Insolvency.

In the wake of the Argentinian and Greek crises, there is a collective desire to make the restructuring of sovereign debt a more orderly process.  The article considers recent proposals from the IMF and the UN designed to do so, together with market-driven solutions including collective action clauses.  It examines how these developments might change the landscape of sovereign restructurings in the next few years.

CRI article