{"id":2462,"date":"2026-08-14T01:31:19","date_gmt":"2026-08-13T22:31:19","guid":{"rendered":"https:\/\/sites.uwasa.fi\/mfjuva\/?page_id=2462"},"modified":"2026-08-14T01:31:19","modified_gmt":"2026-08-13T22:31:19","slug":"sovereign-debt-sustainability","status":"publish","type":"page","link":"https:\/\/sites.uwasa.fi\/mfjuva\/all-issues\/sovereign-debt-sustainability\/","title":{"rendered":""},"content":{"rendered":"

Sovereign Debt Sustainability, Debt Relief Initiatives and Restructurings in the COVID-19 Era<\/h2>\n

Multinational Finance Journal, 2021, vol. 25, no.3\/4, pp. 115 -149<\/p>\n

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Michael G. Papaioannou<\/strong>, International Monetary Fund, USA\u00a0 and Drexel University, USA<\/em><\/p>\n

George Tsetsekos<\/strong>, Drexel University, USA<\/em><\/p>\n

Abstract:<\/strong><\/h3>\n

This paper examines the causes, processes, and outcomes of the sovereign debt restructuring episodes that occurred during 2020-2021 in the context of the prevailing IMF sovereign debt restructuring framework and the G20 debt relief initiatives for LICs instituted as a result of the Covid-19 economic implications. The central role of debt sustainability analysis in the IMF sovereign debt restructuring framework is presented for both low-income countries and countries that maintain market access. Based on the observed salient features of the recent restructurings, we point out common traits in the behavior of involved stakeholders and draw lessons on facilitating sovereign and creditor attributes for efficient sovereign debt resolutions.<\/p>\n

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Citation (APA):<\/strong><\/h3>\n

Papaioannou, M. G., & Tsetsekos, G. (2021). Sovereign debt sustainability, debt relief initiatives and restructurings in the COVID-19 era. Multinational Finance Journal, 25<\/em>(3\/4), 115\u2013149.<\/p>\n

Citation (Harvard):<\/strong><\/h3>\n
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Papaioannou, M.G. and Tsetsekos, G., 2021. Sovereign Debt Sustainability, Debt Relief Initiatives and Restructurings in the COVID-19 Era. Multinational Finance Journal<\/em>, 25(3\/4), pp.115\u2013149.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Sovereign Debt Sustainability, Debt Relief Initiatives and Restructurings in the COVID-19 Era Multinational Finance Journal, 2021, vol. 25, no.3\/4, pp. 115 -149 Michael G. Papaioannou, International Monetary Fund, USA\u00a0 and Drexel University, USA George Tsetsekos, Drexel University, USA Abstract: This paper examines the causes, processes, and outcomes of the sovereign debt restructuring episodes that occurred […]<\/p>\n","protected":false},"author":621,"featured_media":0,"parent":221,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-2462","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages\/2462"}],"collection":[{"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/users\/621"}],"replies":[{"embeddable":true,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/comments?post=2462"}],"version-history":[{"count":1,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages\/2462\/revisions"}],"predecessor-version":[{"id":2463,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages\/2462\/revisions\/2463"}],"up":[{"embeddable":true,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages\/221"}],"wp:attachment":[{"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/media?parent=2462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}