A Stocktaking of The Current International Architecture for Resolving Sovereign Debt Involving Private Sector Creditors

International Monetary Fund

No 2025/034, IMF Policy Papers from International Monetary Fund

Abstract: There have been major developments in the global economy and sovereign debt markets since the Fund’s stocktaking in 2020. The contractual framework for the resolution of privately held sovereign debt has evolved further. Progress has been made in certain areas, although gaps still remain.

Keywords: Bonds; Debt management; Debt restructuring; Debt Service; Debt Transparency; Domestic Debt Restructuring; Domestic law; Enhanced CACs; Exchange offer; International bonds; Restructuring negotiations; Sovereign Bonds; Sovereign Debt Restructuring; Secondary Market; Statutory tools; General government debt level; debt carrying capacity; climate resilient debt clause; loss reinstatement clause; Loans; Global (search for similar items in EconPapers)
Pages: 78
Date: 2025-10-07
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