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A Sovereign Debt Restructuring Mechanism for Developing Countries

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Listed:
  • Nick K. Kolev
  • Jonathan Stilwell

    (FirstRand Bank)

Abstract

Various proposals are being advanced to help manage sovereign indebtedness through decreasing debt service payments. We contribute to these with a proposal for a sovereign debt restructuring mechanism whereby distressed sovereigns do not have to obtain new loans or post collateral, hard-currency exposures are transformed into local-currency exposures, and current sovereign lenders continue receiving hard-currency payments on hard-currency exposures.

Suggested Citation

  • Nick K. Kolev & Jonathan Stilwell, 2023. "A Sovereign Debt Restructuring Mechanism for Developing Countries," Development Finance Agenda, Chartered Institute of Development Finance, vol. 8(8), pages 6-8.
    • Handle: RePEc:afj:journ4:v:8:y:2023:i:8:p:6-8
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    File URL: https://journals.co.za/doi/abs/10.10520/ejc-defa_v8_n8_a2
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