How the IMF did it:
sovereign debt restructuring between 1970 and 1989
by Jérôme Sgard
Board of Governors International Monetary Fund. Credits: Wikipedia
In a recent article published in the Capital Markets Law Journal, Jérôme Sgard, researcher at CERI, analyses how the International Monetary Fund (IMF) acted as a third-party in a total of 109 debt restructurings between 41 debtor states and their creditor banks, how this regime emerged through trial and error during the 1970s; and how it was implemented and accounted for and justified after the 1982 Mexican crisis.
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