A Bankruptcy Procedure for Sovereign Debtors (2003)

Download As PDF This article explores whether a more formal bankruptcy procedure, the Sovereign Debt Restructuring Mechanism (SDRM) as proposed by the IMF, or in some modified form, is needed to deal with sovereign debt problems. The key consequences of the invocation...

How Would a New Bankruptcy Regime Help (2002)

Download As PDF A key issue in the debate over reform of the international financial system is whether to adopt a new international bankruptcy regime for sovereign debt, and an important aspect of that debate is the lack of consensus about the problems that such a...