Publication

This paper discusses “debt reprofiling”, a form of sovereign debt restructuring in which the amount of time left for repayment of a government’s liabilities are extended in maturity, while interest rates on bonds and amounts borrowed in loans are not cut. The author also examines 1) the IMF’s proposal to make debt reprofiling the main element of its overhaul of its policy that governs fund lending and debt restructuring when a country seeks to borrow large sums; and 2) how reprofiling could have been applied to Ukraine in 2014 to help it manage its finances following the destabilization caused by the geopolitical conflict in the country.