Past cycles of sovereign lending and default suggest that debt crises will recur at some point. This book shows why investors should reckon with similar credit events in the future. Surveying the sovereign bond market, the author provides investors with a useful toolkit for analyzing sovereign...

Mounting external indebtedness has become a major problem for many developing countries. This may be not least a result of the fact that economists and policy-makers have tended to emphasize the benefits to the recipient countries of external borrowing to the neglect of its costs.