Covid-19 challenges IMF debt-restructuring framework

Process needs tweaking to address pandemic-related issues, former IMF general counsel says

IMF HQ 2
Photo: Henrik Gschwindt de Gyor/IMF

The International Monetary Fund’s current sovereign debt-restructuring framework needs adjusting to address new challenges associated with Covid-19 crisis, a former IMF official says.

The IMF’s current debt-sustainability criteria may not suit the highly uncertain nature of the Covid-19 crisis, Sean Hagen, former general counsel at the IMF, says in a recent report.

The fund should introduce a new “standstill” debt-restructuring agreement that would give countries a year or two of “breathing

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.