Download This PaperSovereign Debt Restructuring after Argentina
School of International Service Research Paper No. 2016-2
Revised version published in Development, June 2016, Volume 59, Issue 1–2, pp 100–106, https://doi.org/10.1057/s41301-017-0067-z
14 Pages Posted: 5 Oct 2016 Last revised: 26 Oct 2017
Date Written: October 4, 2016
Abstract
Sovereign debt restructurings may experience marginal changes as a result of recent modifications in contractual terms being incorporated into new bond issues, but for the most part they will likely resemble what has generally worked so well in recent decades to the satisfaction of most governments and private creditors. The statutory reforms that have been proposed to date are highly unlikely to gain traction for a variety of reasons, including the prospect that they would have been stymied when confronted with a rogue sovereign debtor such as Argentina.
Keywords: Argentina, Default, Debt, Sovereign, Restructuring, Statutory, Contractual, Collective Action, Pari Passu, Finance
JEL Classification: E6, F3, F34, F51, F65, H63, K4, N26, Q15
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