The Debt Pandemic

Bulow, Jeremy and Reinhart, Carmen and Rogoff, Kenneth and Trebesch, Christoph (2020): The Debt Pandemic. Published in: Finance and Development No. Fall : pp. 12-16.

Abstract

The COVID-19 pandemic has greatly lengthened the list of developing and emerging market economies in debt distress. For some, a crisis is imminent. For many more, only exceptionally low global interest rates may be delaying a reckoning. Default rates are rising, and the need for debt restructuring is growing. Yet new challenges may hamper debt workouts unless governments and multilateral lenders provide better tools to navigate a wave of restructuring. We offer suggestions.

• Item Type: MPRA Paper
• Language: English
• Keywords: debt, default, emerging markets, policies
• Subjects: E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; F - International Economics > F3 - International Finance; G - Financial Economics > G0 - General; G - Financial Economics > G0 - General > G01 - Financial Crises

References

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