The history of debt relief goes back several decades. It reveals that a country's accumulation of unsustainable debt stems from such factors as deficiencies in macroeconomic management, adverse terms-of-trade shocks, and poor governance. Debt-relief initiatives have provided debt-burdened...

1. Brief history of debt management until 1989 -- 2. Brief history of debt management after 1989 -- 3. In quest of solutions : sovereign insolvency proposals, collective action clauses and recent country cases -- 4. Gleneagles, the Multilateral Debt Relief Initiative and the US crisis -- 5. The...

Excessive indebtedness as an ethical problem / The Editors -- The players and the game of sovereign debt / Barry Herman -- Fairness in sovereign debt / Christian Barry and Lydia Tomitova -- International debt : the constructive implications of some moral mathematics / Sanjay G. Reddy -- Should...