are now attempting to lower debt ratios. We analyze past debt reduction episodes and find inflation and the real interest … rate were the most frequent main drivers, while higher growth, fiscal consolidation and debt restructuring were relatively …During the pandemic, public debt in Latin America and the Caribbean rose to more than 70 percent of GDP, and countries …

This paper assesses debt sustainability in Guatemala. Debt stability has been achieved at very low expenditure levels … favors stability. The paper explores characteristics of how fiscal policy is conducted, showing that government expenditures …

debt restructuring that captures key facts of sovereign debt and restructuring episodes. While debt dilution pushes for …Sovereign debt crises involve debt restructurings characterized by a mix of face-value haircuts and maturity extensions … extensions upon restructurings: income recovery after default, credit exclusion after restructuring, and regulatory costs of book …

The wave of sovereign defaults in the early 1980s and the string of debt crises in the decades that followed have … fostered proposals involving policy interventions in sovereign debt restructurings. A key question about these proposals that … renegotiation in sovereign debt restructurings. Critically, the model also endogenizes the choice of debt maturity, an essential …

Fiscal rules have gained popularity as tools to strengthen debt sustainability by constraining policy discretion … debt stabilization. International experience and empirical evidence regarding the working of fiscal rules suggest that …

collector into a sequenced provider of debt relief. The study finds that more generous restructuring conditions involving … relief to be granted through debt restructuring, the official sector faces a trade-off between the objectives of stimulating …Despite the frequency of official debt restructurings, little systematic evidence has been produced on their …