Private debt flows to developing countries surged to record levels over the period 2003-07. A few low-income countries have gained access to the international bond market but the bulk of the flows have continued to go to just a few large middle-income countries. Most low-income countries still...

The objective of debt relief grant operation was to provide Cameroon the assistance required by IDA under the enhanced HIPC Debt Initiative upon Cameroon reaching the completion point, thus contributing to improving Cameroon's overall debt sustainability and supporting the government's...

International Debt Statistics (IDS), a long-standing annual publication of the World Bank, features external debt statistics and analysis for the 123 low- and middle-income countries that report to the World Bank Debtor Reporting System. IDS 2022 includes (1) an overview analyzing global trends...

International financial institutions (IFIs) generally enjoy preferred creditors treatment (PCT). Although PCT rarely appears in legal contracts, when sovereigns restructure bilateral or commercial debts, they normally pay IFIs in full. This paper presents a model where a creditor, such as an...

The global recession caused by the COVID-19 pandemic and the resulting deterioration in many countries' public finances have increased the risk of sovereign debt crises. Although crisis prevention remains paramount, these developments have made it imperative to re-examine the adequacy of the...

International Debt Statistics, a long-standing annual publication of the World Bank, features external debt statistics and analysis for the 123 low- and middle-income countries that report to the World Bank Debtor Reporting System. Includes (1) an overview analyzing global trends in debt stocks...