Publication

This paper outlines a proposal for a sovereign debt forum (SDF) that would provide a venue to facilitate engagement among the creditors, debtors and other stakeholders of an economy facing a sovereign debt crisis. The authors detail the limitations of the existing mechanisms for addressing sovereign crises, which they state have not undergone significant changes since 2003. They then lay out the case for a reform agenda centered on the proposal for the creation of an SDF to reduce the costs connected to sovereign debt crises.