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Sovereign Debt at the CrossroadsChallenges and Proposals for Resolving the Third World Debt Crisis$
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Chris Jochnick and Fraser A. Preston

Print publication date: 2006

Print ISBN-13: 9780195168006

Published to Oxford Scholarship Online: May 2006

DOI: 10.1093/0195168003.001.0001

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Dealing Comprehensively, and Justly, with Sovereign Debt

Dealing Comprehensively, and Justly, with Sovereign Debt

Chapter:
(p.226) 11 DEALING COMPREHENSIVELY, AND JUSTLY, WITH SOVEREIGN DEBT
Source:
Sovereign Debt at the Crossroads
Author(s):

Jack Boorman

Publisher:
Oxford University Press
DOI:10.1093/0195168003.003.0012

This chapter discusses ideas for resolving debt crises. It argues that a narrow focus on debt relief in HIPCs is insufficient and that the activist community and lenders must look to finding broader measures of foreign aid and creating a fair trading environment. In the end, finding the “right” level of debt relief is impossible and ignores the more important aim of delivering a better life to impoverished people. Support is given to a proposal floated by the IMF for a sovereign debt restructuring mechanism (SDRM) to resolve pending debt crises in developing countries.

Keywords:   debt crises, IMF, fair trading environment, sovereign debt restructuring mechanism, debt relief

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