IMF’s Debt Restructuring Follies

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February 2014 | 8 pages

This IBON International policy brief which analyzes the policy failures and blunders of the International Monetary Fund (IMF) in holding on to its market-based approach to settling sovereign debt. The IMF’s failures are most clearly seen in its handling of the massive debt bailout in Greece and in Argentina’s susceptibility and long battle with vulture funds.

While the IMF suffered a crisis of confidence and undertaking an introspective review of its premises, reforms within the institution are extremely limited. The IMF review of its debt policies is devoid of any serious effort to adopt the human rights and social justice framework, or to even just consider non-IMF neutral arbitrators for debt workout.  This policy paper’s critique of the IMF initiative ends with a set of policy recommendations

Description

Contents

Unsustainable Greek Sovereign Debt

Argentina versus Vulture Funds

The Problems of IMF Debt Restructuring and the Proposed Solutions

Reforming the Sovereign Debt Restructuring Procedure

Policy Recommendations

Additional information

Weight 1 kg

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