Rogoff predicts wave of sovereign defaults

Kenneth Rogoff
Photo: IMF

Banking crises traditionally result in "a bunch of sovereign defaults", and this time is no different, Kenneth Rogoff, an academic and former chief economist for the International Monetary Fund (IMF), said on Tuesday.

Rogoff, who recently co-authored This Time is Different, a book on the history of financial crises over eight millennia, told a forum in Japan that markets would ultimately push bond yields up, increasing the cost of borrowing to governments.

"We almost always have sovereign risk

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.