Bankruptcy

IMF Working Paper Series

RESEARCH - 'Bankruptcy Procedures for Sovereigns: A History of Ideas, 1976-2001' by Kenneth Rogoff and Jeromin Zettelmeyer, August 2002. This paper describes the evolution of the literature from the late 1970s until 2001, with particular emphasis on the…

Swedish central banker backs IMF bankruptcy plan

SWEDEN - An IMF plan for an international bankruptcy procedure could help financially troubled nations restructure their debt in an orderly manner and avoid the chaotic scenes witnessed in Argentina, says Riksbank's Heikensten.

Former US official proposes solvency crisis fund

ARGENTINA - While Argentina's perilous brush with bankruptcy has sparked a renewed debate on the idea of officially-sanctioned debt standstills, a former top official of the Federal Reserve and the Treasury Department on Monday proposed another way of…

IMF in support of bankruptcy plan

UK - The International Monetary Fund's management has thrown its weight behind a radical plan for an international bankruptcy procedure, allowing indebted governments to seek legal protection from their private sector creditors.

IMF considers sovereign debt protection

US - The International Monetary Fund has unveiled a radical plan to make itself the gatekeeper for a system designed to give heavily-indebted countries bankruptcy protection.

Call for big changes to global financial system

ARGENTINA - A group of former finance ministers from emerging market countries will today propose fundamental changes to the global financial system, including an international bankruptcy procedure for government borrowers.

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