Díaz-Cassou, Javier - 2008
Sovereign debt restructurings do constitute a recurrent phenomenon in emerging and developing economies. Consequently … workouts, of which the debate on the Sovereign Debt Restructuring Mechanism (SDRM) proposed by the IMF in 2002 is the most … consolidating debt restructurings as market-led case-by-case processes. This paper reviews nine recent sovereign debt restructurings …