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PIIE: How to restructure sovereign debt – lessons from four decades

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WORKING PAPER

“This paper discusses the process of restructuring a sovereign’s debt once this step becomes unavoidable. All sovereign debt workouts are painful—for the debtor country, its citizens, its creditors, and its official sector sponsors. If mishandled, however, a sovereign debt workout can be incandescently painful.”

To read the full paper, please click here.

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