Sovereign Debt Restructuring

A Note from Nouriel Roubini *



Dear Colleagues,

please find attached in a pdf file my new paper (with Brad Setser) on the sovereign debt restructuring process in general and the Argentine debt restructuring in the specific. Section 4 of the paper provides our views of the shortcomings of the current official and private sector approach to the Argentine debt restructuring process and some suggestions on how to improve it. The paper will be forthcoming as the lead article in the first issue of the new Journal of Restructuring Finance.

THE REFORM OF THE SOVEREIGN DEBT RESTRUCTURING
PROCESS: PROBLEMS, PROPOSED SOLUTIONS, AND THE
ARGENTINE EPISODE (To be downloaded via JRF)

Comments/feedback would be most welcome. The themes of the paper - as well as a broader range of issues in crisis resolution - are fleshed out in more detail in my forthcoming book with Setser "Bailouts or Bailins? Responding to Financial Crises in Emerging Markets" to be published by the Institute for International Economics in June.

Best,

Nouriel


Nouriel Roubini

Department of Economics, KMC 7-83

Stern School of Business, New York University

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New York, NY 10012

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Email: nroubini@stern.nyu.edu

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