Simple Guidelines to Enable Expeditious Debt Restructuring
As public debt issuance has surged in recent years, so too have situations of debt distress in developing and emerging countries. Existing debt restructuring tools are not effective in handling these debt crises, however, with creditors finding it exceedingly difficult to efficiently restructure sovereign debt using today’s processes and procedures.
In this policy paper, Lazard supports the case for the comparability of treatment for all creditors and makes the case for the adoption of simple, precise, transparent and equitable guidelines to enable expeditious sovereign debt restructuring.
