Covid-19 and emerging markets: Avoiding a sovereign debt crisis
Speaker: Sean Hagan, Senior Fellow, Peterson Institute for International Economics and General Counsel and Director of the Legal Department at the IMF (2004-18)
Amid dramatic capital outflows, a collapse in commodity prices and a surge in dollar demand, the pandemic has made it significantly difficult for emerging markets to refinance debts. Preventing debts from becoming permanently unmanageable is crucial. This meeting focuses on the tools at sovereign issuers’ disposal, honing in on the legal aspects of restructuring sovereign debt, and the limitations of such instruments.