We examine the determinants of external crises, focusing on the role of foreign liabilities and their composition … liabilities (NFL) to GDP is a significant crisis predictor, and the more so when it exceeds 50 percent in absolute terms and 20 … percent of the country-specific historical mean. This is primarily due to net external debt--the effect of net equity …

economies, where debt restructuring or conversions, financial Repression, and a tolerance for higher inflation, or a combination … current phase of the official policy approach is predicated on the assumption that debt sustainability can be achieved through … toolkit of emerging markets, including debt restructurings and conversions, higher inflation, capital controls and other forms …

facilitate coordination among private creditors in order to contain the costs of a debt default or restructuring. We analyze the … the international “rules of the game†for dealing with sovereign debt crises. These rules rest on two main pillars. The … designed to support macroeconomic adjustment packages based on the key notion of public debt sustainability. The complementary …

countries, the debt of countries in the Global South has been at a dramatically high level for years. High debt service payments …Triggered by both low interest rates in rich countries and high financing needs for infrastructure in many poorer …

true cost of debt may be overstated if interest rates remain low. To shed light into this debate, this paper re … the interest-growth differential. Our analysis also reveals that the interactions of public debt with inflation and …With public debt soaring across the world, a growing concern is whether current debt levels are a harbinger of fiscal …

Greek’s government debt based on Greece meeting certain targets for structural economic reforms in areas such as its labor … market and pensions sector.The authors argue that the position of the European institutions that debt relief for Greece … cannot be part of an agreement is based on the illusion that Greece will be able to service its sovereign debt and reduce its …