Book description
The last time global sovereign debt reached the level seen today was at the end of the Second World War, and this shaped a generation of economic policymaking. International institutions were transformed, country policies were often draconian and distortive, and many crises ensued. By the early 1970s, when debt fell…
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Why read it?
1 author picked Sovereign Debt as one of their favorite books. Why do they recommend it?
Government borrowing is the golden goose that makes possible investment in public infrastructure and continuing expenditures despite temporary shortfalls in tax revenue.
But when not managed well or when rocked by unforeseen catastrophes, sovereign debt can become an impossible burden.
Because the International Monetary Fund is mandated to worry about international financial stability, it is the central institution for international oversight of sovereign debt.
In this volume, the IMF brought together 38 economic and legal experts to explain to a broad audience why governments borrow, how to borrow sustainably, and how to emerge from default.
It is not a training…
From Barry's list on developing countries sovereign debt crises.
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