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Sovereign debt restructurings in Grenada : causes, processes, outcomes, and lessons learned

Asonuma, Tamon; Li, Xin; Papaioannou, Michael G.; … - 2017

This paper documents the two debt restructurings that Grenada undertook in 2004-06 and 2013-15.Both restructurings emerged as a consequence of weak fiscal and debt situations, whichbecame unsustainable soon after external shocks hit the island economy. The two restructurings provided liquidity...