Author:
Cohen Charles,Abbas S. M. Ali,Anthony Myrvin,Best Tom,Breuer Peter,Miao Hui,Myrvoda Alla,Togo Eriko
Abstract
The COVID-19 crisis may lead to a series of costly and inefficient sovereign debt restructurings. Any such restructurings will likely take place during a period of great economic uncertainty, which may lead to protracted negotiations between creditors and debtors over recovery values, and potentially even relapses into default post-restructuring.
State-contingent debt instruments (SCDIs) could play an important role in improving the outcomes of these restructurings.
Publisher
International Monetary Fund (IMF)
Cited by
8 articles.
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