Revisiting the sovereign debt architecture: The Common Framework and considerations for a swift debt relief mechanism
Harry Deng (2024). Revisiting the sovereign debt architecture: The Common Framework and considerations for a swift debt relief mechanism. United Nations University.
Document type:
Report
Collection:
-
Attached Files (Some files may be inaccessible until you login with your UNU Collections credentials) Name Description MIMEType Size Downloads sovereign_debt_architecture.pdf sovereign debt architecture.pdf 
application/pdf 131.94KB -
Author Harry Deng Title Revisiting the sovereign debt architecture: The Common Framework and considerations for a swift debt relief mechanism Publication Date 2024-10-25 Place of Publication New York Publisher United Nations University Pages 13 Language eng Abstract This paper advances three main arguments to improve the sovereign debt architecture. First, the sovereign debt landscape has shifted considerably over three decades. Second, developing a shared understanding/methodology of what comparability of treatment entails and how to enforce it should be pursued as a longer-term goal. Finally, alternative debt relief mechanisms alongside the Common Framework should be pursued to provide immediate debt relief and open up fiscal space for lower- and middle-income countries. These arguments are developed in three sections. The first section contextualizes the current debt crisis by looking back at the 1980s debt crisis and introduces the Brady Bonds that brought an end to the 1980s debt crisis. The second section examines the politics of sovereign debt restructuring. The third section considers the potential for debt relief through a Brady Bond-like transaction. This final section brings the previous two sections together by examining how the lessons from the 1980s debt crisis can be applied to contemporary debt challenges, and explores the actions required to achieve Brady Bond-like transactions. Copyright Holder United Nations University Copyright Year 2024 Copyright type Creative commons ISBN 9789280866384 -
Citation counts 
Search Google Scholar
Access Statistics: 45 Abstract Views, 148 File Downloads - Detailed Statistics Created: Sat, 26 Oct 2024, 00:33:48 JST by Tess Pilkington on behalf of UNU Centre