Sovereign defaults are bad news for investors and debtor countries, in particular if a default becomes messy and … to exit a default quickly …

in the 1970s, several debt exchanges have increasingly been required to resolve a default. To understand this new … phenomenon better, this Weekly Report looks at total creditor losses across all restructurings during a default spell. Instead of … focusing on each individual restructuring, the cumulative haircut adds up all losses across a default spell. These calculations …