Bruised by the traumatic experience of Greece’s two bailouts, staff of the International Monetary Fund floated a proposal in April that would insist that distressed countries’ excessive debts be restructured before a bailout is granted. In a riposte published this week, a group of leading authorities on sovereign debt claims the idea goes too far.
Bruised by the traumatic experience of Greece’s two bailouts, staff of the International Monetary Fund floated a proposal in April that would insist that distressed countries’ excessive debts be restructured…