Archive - Sovdebt Oddities

Zambia: Third Time’s a Charm?

Zambia reached an agreement with a steering committee of investors to restructure its three outstanding eurobonds, more than three years after…

Apr 2 •

November 2023

Zambia: the Official Sector Strikes Back

Zambia’s agreement in principle with bondholders was met with reservations by the IMF and the Official Creditor Committee, and is apparently being…

Nov 13, 2023 •

September 2023

The cautionary tale of Zambia's domestic debt

The architecture for sovereign debt restructurings tends to be shaped by landmark cases. In that view, the deal reached in June by Zambia with its…

Sep 11, 2023 •

Suriname: in a league of its own?

The IMF just reached a staff-level agreement with Suriname on the third review of the country’s program, which restarted in June after a year-long…

Sep 1, 2023 •

May 2023

Suriname's sovereign restructuring on the move

Bond restructuring in the books, all eyes now on the IMF?

May 10, 2023 •

April 2023

Sovereign debt takeaways from the IMF meetings

Sovereign debt was on top of the agenda during the IMF/WB Spring Meetings, between April 10 and 16. There was movement at the Global Sovereign Debt…

Apr 24, 2023 •

The (un)Common Framework: push comes to shove

The G20 Common Framework somehow assumed that China could behave like Paris Club creditors within the international financial system. The Zambia…

Apr 6, 2023 •

March 2023

Sovereign restructurings: a logjam long in the making

In September 2022, Sri Lanka reached a Staff Level Agreement with the IMF. Six months later, the program is moving to the Executive Board on March 20…

Mar 8, 2023 •

February 2023

Sri Lanka: who blinks next?

There have been major developments in recent weeks for Sri Lanka’s debt restructuring process and IMF program negotiations: India and the Paris Club…

Feb 8, 2023 •

January 2023

IMF financing assurances: no quick fix

The financing assurances policy is proving to be the main roadblock towards IMF program approval in recent sovereign restructuring cases, such as Zambia…

Jan 4, 2023 •

November 2022

Lending Into Official Arrears, a policy adrift?

In my last blog post, I looked at the Suriname 2021 IMF program to try and make the point that it was enabled by blurred lines between financing…

Nov 16, 2022 •

Suriname: blurred lines between IMF policies

In 2021 the IMF approved a program under the Extended Fund Facility for Suriname. The country’s debt was unsustainable and needed to be restructured…

Nov 7, 2022 •

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