Jump to ContentJump to Main Navigation
Sovereign DebtA Guide for Economists and Practitioners$
Users without a subscription are not able to see the full content.

S. Ali Abbas, Alex Pienkowski, and Kenneth Rogoff

Print publication date: 2019

Print ISBN-13: 9780198850823

Published to Oxford Scholarship Online: December 2019

DOI: 10.1093/oso/9780198850823.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 30 May 2020

The Restructuring Process

The Restructuring Process

Chapter:
(p.328) 8 The Restructuring Process
Source:
Sovereign Debt
Author(s):

Lee Buchheit

Guillaume Chabert

Chanda DeLong

Jeromin Zettelmeyer

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198850823.003.0009

This chapter goes into depth on the debt restructuring process itself, a topic which has not been covered in the literature in detail before. It gives a step-by-step outline of how restructurings take place, from deciding on the appropriate strategy, to determining which debt should be covered and in what way; to engagement with creditors in the negotiating process. It also covers one of the main structural problems in reaching an agreement with creditors—the collective action problem—and explores ways by which such problems can be overcome with both private creditors (collective action clauses, exit consents) and the official sector (the role of the Paris Club).

Keywords:   Debt default, restructuring, Paris Club, collective action problems, coordination problems

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .