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Persistent Problems and Pending Challenges in Sovereign Debt Restructuring
ISSN: 2545 - 8817
Publisher: author
Persistent Problems and Pending Challenges in Sovereign Debt Restructuring
Indexed in
Law and Political Sciences
ARTICLE-FACTOR
1.3
Article Basics Score: 2
Article Transparency Score: 3
Article Operation Score: 2
Article Articles Score: 2
Article Accessibility Score: 2
SUBMIT PAPER ASK QUESTION
International Category Code (ICC):
ICC-1002
Publisher: Universidad De San Andrés
International Journal Address (IAA):
IAA.ZONE/2545115268817
eISSN
:
2545 - 8817
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Abstract
The aim of this article is to analyze the problems that a State in a credit crisis generally faces while trying to restructure its sovereign external debt to a multitude of private bondholders. As well as to study the main causes for those obstacles and past attempts to fix them. Particularly, this paper will focus on the dispute between the Argentine government and the so-called “vulture funds” after the 2005 and 2010 restructuring, which was paradigmatic and showed how harmful holdouts can be. Finally, this article will study the proposals to enhance the current system –or “non-system”, as it has been called sometimes– of sovereign debt restructuration and it will conclude with a final reflection on future challenges.
