Editor's Note

AuthorPaolo Mauro
Pages1

Page 1

In economics, the questions are always the same but the answers (sometimes) change. How to prevent and resolve sovereign debt crises has long been an important topic for the IMF's work, and it has gained renewed prominence with recent crises in emerging markets as well as the debate on a possible sovereign debt restructuring mechanism and other approaches to creditor coordination. Sovereign Bonds and Public Debt Management summarizes IMF research on a variety of sovereign bond features, including indexation mechanisms, currency composition, maturity structure, and collective action clauses.

Article I of the IMF's Articles of Agreement states that one of the IMF's purposes is to facilitate the expansion and balanced growth...

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