— The South Centre Blog

Yuefen Li

YueFen LiDebt_SustainabilityThe lack of a formal sovereign debt restructuring mechanism has been considered by many as a serious deficit or missing link in the international financial architecture. However, even though the international debates on the topic have been going on for decades, heating up each time with the onset of a debt crisis and cooling down when the crisis was contained, up to now such debates have not yet come to fruition. With the onset of the global financial crisis and especially the legal litigation against Argentina, the debate has become even more intensified with views more convergent than ever on the need of a mechanism.

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