Committeri, Marco; Spadafora, Francesco - International Monetary Fund (IMF) - 2013
facilitate coordination among private creditors in order to contain the costs of a debt default or restructuring. We analyze the … the international “rules of the game†for dealing with sovereign debt crises. These rules rest on two main pillars. The … designed to support macroeconomic adjustment packages based on the key notion of public debt sustainability. The complementary …