Sovereign Debt Sustainability
In 2020, the G20 proposed a solution for the debt-related issues affecting the world’s poorest countries due to the COVID-19 pandemic. However, their initiatives have failed to meet their objectives. The author argues that the reason for this failure is the inability to bring sovereign countries to...
محفوظ في:
| المؤلف الرئيسي: | |
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| التنسيق: | Online |
| اللغة: | الإنجليزية |
| منشور في: |
Taylor & Francis
2022
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| الموضوعات: | |
| الوصول للمادة أونلاين: | OCN: 1334007415 |
| الوسوم: |
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| _version_ | 1869531075079831552 |
|---|---|
| author | Cash, Daniel |
| author_browse | Cash, Daniel |
| author_facet | Cash, Daniel |
| author_sort | Cash, Daniel |
| collection | Directory of Open Access Books |
| description | In 2020, the G20 proposed a solution for the debt-related issues affecting the world’s poorest countries due to the COVID-19 pandemic. However, their initiatives have failed to meet their objectives. The author argues that the reason for this failure is the inability to bring sovereign countries to the table to re-negotiate their debt agreements with private creditors as they fear credit rating agencies and the prospect of a downgrade. The author refers to this as the ‘credit rating impasse’.
This book proposes a novel solution. The author asserts that there is a need in the literature to unpick the dynamic that exists and creates that impasse, namely the pressures that exist between sovereign states, private creditors, credit rating agencies, and the geo-political backdrop that is massively influential in the dynamic, that is, the adversarial relationship between China and the US.
This book addresses the recent history of debt treatment for poorer countries and related successes and failures: COVID-19-related issues and the development of the Debt Service Suspension Initiative and the Common Framework for Debt Treatment. This book examines the reasons for their failure by analysing the positions of the sovereign states, the division between private and official creditors and between multilateral institutions such as the IMF and the World Bank, credit rating agencies, and the competing political entities of China and the US. It presents a wider picture of the systemic underpinnings to such debt-related issues and, when examined through a geo-political perspective, the subsequent chances of future debt treatment-related successes.
Licence line: The Open Access version of this book, available at www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license. |
| format | Online |
| id | doab-20.500.12854ir-93386 |
| institution | Directory of Open Access Books |
| language | eng |
| publishDate | 2022 |
| publishDateRange | 2022 |
| publishDateSort | 2022 |
| publisher | Taylor & Francis |
| publisherStr | Taylor & Francis |
| record_format | ojs |
| spelling | doab-20.500.12854ir-933862025-07-30T08:46:39Z Sovereign Debt Sustainability Cash, Daniel Finance;International economics;Corporate governance: role and responsibilities of boards and directors;Corporate finance;Banking thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCL International economics thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJR Corporate governance: role and responsibilities of boards and directors thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFH Corporate finance thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFK Banking In 2020, the G20 proposed a solution for the debt-related issues affecting the world’s poorest countries due to the COVID-19 pandemic. However, their initiatives have failed to meet their objectives. The author argues that the reason for this failure is the inability to bring sovereign countries to the table to re-negotiate their debt agreements with private creditors as they fear credit rating agencies and the prospect of a downgrade. The author refers to this as the ‘credit rating impasse’. This book proposes a novel solution. The author asserts that there is a need in the literature to unpick the dynamic that exists and creates that impasse, namely the pressures that exist between sovereign states, private creditors, credit rating agencies, and the geo-political backdrop that is massively influential in the dynamic, that is, the adversarial relationship between China and the US. This book addresses the recent history of debt treatment for poorer countries and related successes and failures: COVID-19-related issues and the development of the Debt Service Suspension Initiative and the Common Framework for Debt Treatment. This book examines the reasons for their failure by analysing the positions of the sovereign states, the division between private and official creditors and between multilateral institutions such as the IMF and the World Bank, credit rating agencies, and the competing political entities of China and the US. It presents a wider picture of the systemic underpinnings to such debt-related issues and, when examined through a geo-political perspective, the subsequent chances of future debt treatment-related successes. Licence line: The Open Access version of this book, available at www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license. 2022-11-02T04:00:59Z 2022-11-02T04:00:59Z 2022-11-01T12:58:39Z 2023 book OCN: 1334007415 https://library.oapen.org/handle/20.500.12657/59132 9781032198651 9781032198668 https://directory.doabooks.org/handle/20.500.12854/93386 eng Routledge International Studies in Money and Banking open access image/jpeg image/jpeg image/jpeg image/jpeg image/jpeg Attribution-NonCommercial-NoDerivatives 4.0 International Attribution-NonCommercial-NoDerivatives 4.0 International Attribution-NonCommercial-NoDerivatives 4.0 International Attribution-NonCommercial-NoDerivatives 4.0 International Attribution-NonCommercial-NoDerivatives 4.0 International https://library.oapen.org/bitstream/20.500.12657/59132/1/9781000802542.pdf https://library.oapen.org/bitstream/20.500.12657/59132/1/9781000802542.pdf https://library.oapen.org/bitstream/20.500.12657/59132/1/9781000802542.pdf https://library.oapen.org/bitstream/20.500.12657/59132/1/9781000802542.pdf https://library.oapen.org/bitstream/20.500.12657/59132/1/9781000802542.pdf Taylor & Francis Routledge 10.4324/9781003261223 10.4324/9781003261223 fa69b019-f4ee-4979-8d42-c6b6c476b5f0 9781032198651 9781032198668 Knowledge Unlatched (KU) KU Select 2022: HSS Frontlist Routledge 155 open access |
| spellingShingle | Finance;International economics;Corporate governance: role and responsibilities of boards and directors;Corporate finance;Banking thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCL International economics thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJR Corporate governance: role and responsibilities of boards and directors thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFH Corporate finance thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFK Banking Cash, Daniel Sovereign Debt Sustainability |
| title | Sovereign Debt Sustainability |
| title_full | Sovereign Debt Sustainability |
| title_fullStr | Sovereign Debt Sustainability |
| title_full_unstemmed | Sovereign Debt Sustainability |
| title_short | Sovereign Debt Sustainability |
| title_sort | sovereign debt sustainability |
| topic | Finance;International economics;Corporate governance: role and responsibilities of boards and directors;Corporate finance;Banking thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCL International economics thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJR Corporate governance: role and responsibilities of boards and directors thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFH Corporate finance thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFK Banking |
| topic_facet | Finance;International economics;Corporate governance: role and responsibilities of boards and directors;Corporate finance;Banking thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCL International economics thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJR Corporate governance: role and responsibilities of boards and directors thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFH Corporate finance thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFK Banking |
| url | OCN: 1334007415 |
| work_keys_str_mv | AT cashdaniel sovereigndebtsustainability |