• The IMF staff's 2013 proposal to reprofile (i.e., stretch out for a short period without haircutting principal or interest) the maturing debt of a country that has lost market access is a sensible policy in cases where the IMF is uncertain whether the country's debt stock is sustainable.•...

An overwhelming proportion of businesses in the world are very small, consisting of just one person with no or very few employees. Despite the small size of such businesses, it is extremely important to the economic wellbeing of states that they thrive and grow. In order to achieve this, access...