Odious debt and Hausmann-Gorky effect, from Venezuela to Belarus
5 November 2020

[DOCUMENT] IMF Policy Paper on the International Financial Architecture

On September 23, 2020, the IMF published a policy paper to address challenges related to private-sector sovereign debt restructurings. This paper puts forward a series of hypothetical reforms, including the reinforcement of CACs and their inclusion in other types of instruments such as syndicated loans. It also covers possible changes in the legislation to target vulture funds, as well as ways to enhance debt transparency.