Sudan, with the support of the international community, is seeking to implement an ambitious reform program to address major macroeconomic imbalances and support sustainable, inclusive growth. A new transitional government was established in the wake of the 2019 revolution with the mandate to...

I examine how past interactions among investment banks, financial advisors, and bond attorneys - known here as "debt management networks" - drive pricing and risk-taking on new issue municipal securities. This analysis is motivated by the question of whether centralization improves or distorts...