SOVEREIGN DEBT RESTRUCTURING MECHANISMS: TRENDS, TOOLS, AND GLOBAL CASE STUDIES

MÉCANISMES DE RESTRUCTURATION DE LA DETTE SOUVERAINE: TENDANCES, OUTILS ET ÉTUDES DE CAS INTERNATIONALES

Mykhailo Hantsiak ()
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Mykhailo Hantsiak: State Research Institute for Informatization and Economic Modeling

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Abstract: Ukraine's debt crisis has intensified, reflected in rising public liabilities, a widening budget deficit, and growing pressure on public finances. Limited domestic funding sources force the state to borrow actively on the debt market, exceeding safe thresholds and increasing insolvency risks. Under these conditions, sovereign debt restructuring becomes a crucial tool to prevent financial destabilization. The study identifies key principles for implementing restructuring mechanisms based on global experience and develops recommendations for their adaptation to Ukraine's context. Using official statistical data, analytical reports, and international case studies, the research demonstrates that the effectiveness of restructuring depends on the depth of debt condition adjustments and coordination with creditors. The role of structural reforms and fiscal consolidation is emphasized. It is concluded that adapting the best international practices is essential to strengthen Ukraine's public debt sustainability.

Keywords: debt sustainability; боргова безпека; боргова стійкість; державні запозичення; фінансові інструменти; державний борг; реструктуризація; debt crisis. Ганцяк Михайло; restructuring sovereign debt financial instruments government borrowings debt sustainability debt security debt crisis. Ганцяк Михайло реструктуризація державний борг фінансові інструменти державні запозичення боргова стійкість боргова безпека боргова криза. JEL Classification: H63 F34 E62 G38 F30; restructuring sovereign debt; restructuring; sovereign debt; financial instruments; government borrowings; debt security; debt crisis (search for similar items in EconPapers)
Date: 2025-10-31
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Published in Economic journal of Lesya Ukrainka Volyn National University, 2025, 3 (43), pp.36-43. ⟨10.29038/2786-4618-2025-03-36-43⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05355399

DOI: 10.29038/2786-4618-2025-03-36-43

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