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1

Burke, Dillon K., ed. Recent developments in external debt restructuring. International Monetary Fund, 1985.

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2

Kincaid, G., K. Dillon, Maxwell Watson, and Chanpen Puckahtikom. Recent Developments in External Debt Restructuring. International Monetary Fund, 1985. http://dx.doi.org/10.5089/9780939934522.084.

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3

Fund, International Monetary. Recent Development in External Debt Restructuring. s.n, 1985.

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4

Wijnbergen, Sweder van. Mexico's external debt restructuring in 1989-90. Country Operations Division, Latin America and the Caribbean Regional Office, Country Dept. II, World Bank, 1990.

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5

Reinisch, August. State responsibility for debts: International law aspects of external debt and debt restructuring. Böhlau, 1995.

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6

Thirty, Group of, ed. Key issues in sovereign debt restructuring: A Working Group report. Group of Thirty, 2002.

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7

Bulow, Jeremy. Sovereign debt restructurings: Panacea or pangloss? National Bureau of Economic Research, 1988.

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8

Venezuela. Summary of proposed terms of the 1987 amendment to the restructuring agreements and other materials. s.n., 1987.

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9

Bolton, Patrick. Structuring and restructuring sovereign debt: The role of seniority. National Bureau of Economic Research, 2005.

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10

Bolton, Patrick. Structuring and restructuring sovereign debt: The role of seniority. National Bureau of Economic Research, 2005.

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11

Bossone, Biagio. The new approach to sovereign debt restructuring: Setting the incentives right. International Monetary Fund, Office of the Executive Director for Italy, Greece, Portugal, Malta, San Marino, and Albania, 2002.

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12

Bolton, Patrick. Structuring and restructuring sovereign debt: The role of a bankruptcy regime. International Monetary Fund, Research Dept., 2007.

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13

Begg, David K. H. Enterprise debt and economic transformation: Financial restructuring of the state sector in Central and Eastern Europe. Centre for Economic Policy Research, 1992.

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14

Friedman, Benjamin M. Debt restructuring. National Bureau of Economic Research, 2000.

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15

Hassanali, Mehran, IMF Institute, and International Monetary Fund. Central Banking Dept., eds. External debt management. International Monetary Fund, 1985.

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16

Fasipe, Akintayo. Nigeriaʼs external debt. Obafemi Awolowo University Press Ltd., 1990.

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17

Marney, Richard, and Timothy Stubbs. Emerging Markets Debt Restructuring. Springer Nature Switzerland, 2024. http://dx.doi.org/10.1007/978-3-031-66838-8.

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18

Cordella, Tito. Debt overhang or debt irrelevance?: Revisiting the debt-growth link. International Monetary Fund, 2005.

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19

Rübel, Gerhard. Factors Determining External Debt. Springer Berlin Heidelberg, 1988. http://dx.doi.org/10.1007/978-3-642-83655-8.

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20

Pattillo, Catherine A. External debt and growth. International Monetary Fund, Research Department, 2002.

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21

Falegan, S. B. Nigeria's external debt burden. Fountain Publications, 1992.

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22

Rao, V. V. Bhanoji. ASEAN external debt perspectives. Times Academic Press, 1994.

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23

Cohen, Daniel. Growth and external debt. Centre for Economic Policy Research, 1993.

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24

Banco Central de Chile. Dirección Internacional. Chilean external debt, 2003. Direccion Internacional, Banco Central de Chile, 2004.

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25

African Forum & Network on Debt & Development., ed. Africa's external debt: An analysis of African countries external debt crisis. African Forum & Network on Debt & Development, 2003.

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26

Rodríguez, Carlos A. Managing Argentina's external debt: The contribution of debt swaps. C.E.M.A., 1990.

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27

Upadhyaya, Kamal Prasad. External debt and debt servicing in Nepal. Centre for Economic Development and Administration, Tribhuvan University, Kirtipur, 1985.

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28

Kiss, Judit. Sentenced to debt: African debt crisis : facts, causes and remedies. Institute for World Economics of the Hungarian Academy of Sciences, 1991.

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29

Reinhart, Carmen M. Debt intolerance. National Bureau of Economic Research, 2003.

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30

B, Shoven John, and Waldfogel Joel 1962-, eds. Debt, taxes, and corporate restructuring. Brookings Institution, 1990.

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31

Canada. Library of Parliament. Research Branch. International debt. Library of Parliament, 1995.

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32

World Bank. External Debt Division., ed. World debt tables: External debt of developing countries. World Bank, 1986.

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33

World Bank. External Debt Division., ed. World debt tables: External debt of developing countries. World Bank, 1986.

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34

Singer, H. W., and Soumitra Sharma, eds. Growth and External Debt Management. Palgrave Macmillan UK, 1989. http://dx.doi.org/10.1007/978-1-349-10944-9.

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35

Puckahtikom, Chanpen, K. Burke Dillon, G. Russell Kincaid, and Maxwell Watson. Recent Developments in External Debt Restructuring. International Monetary Fund, 1985.

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36

Dillon, K. Burke, G. Russell Kincaid, and Maxwell Watson. Recent Developments in External Debt Restructuring. International Monetary Fund, 1985.

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37

Megliani, Mauro. Sovereign Debt: Genesis - Restructuring - Litigation. Springer, 2014.

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38

Megliani, Mauro. Sovereign Debt: Genesis - Restructuring - Litigation. Springer, 2014.

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39

Megliani, Mauro. Sovereign Debt: Genesis - Restructuring - Litigation. Springer, 2016.

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40

(Editor), Vinod K. Aggarwal, and Brigitte Granville (Editor), eds. Sovereign Debt: Origins, Crises, and Restructuring. Royal Institute of International Affairs, 2004.

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41

Expedited Corporate Debt Restructuring in the EU. Oxford University Press, 2015.

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42

Assessment of Debt Restructuring Operations in Commonwealth Small States. Commonwealth Secretariat, 2015.

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43

Rieffel, Lex. Restructuring Sovereign Debt: The Case for Ad Hoc Machinery. Brookings Institution Press, 2003.

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44

Rieffel, Lex. Restructuring Sovereign Debt: The Case for Ad Hoc Machinery. Brookings Institution Press, 2003.

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45

Restructuring sovereign debt: The case for ad hoc machinery. Brookings Institution Press, 2003.

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46

Cross Border Debt Restructuring: Innovative Approaches for Creditors, Corporate and Sovereigns. Euromoney Institutional Investor PLC, 2005.

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47

Rodrigo, Olivares-Caminal, Douglas John, Guynn Randall, Kornberg Alan, Paterson Sarah, and Singh Dalvinder. Part III Sovereign Debt Restructuring, 11 Litigation Aspects of Sovereign Debt. Oxford University Press, 2016. http://dx.doi.org/10.1093/law/9780198725244.003.0011.

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This chapter starts the study of litigation aspects of a sovereign debt by looking at the effect of a disruption in the economy in terms of legal options for recovery. The chapter also looks at the pari passu clause in sovereign debt instruments. A pari passu clause is a standard clause included in public or private international unsecured debt obligations (syndicated loan agreements and bond issuances). From a close reading of the clause, it can be argued that it has two limbs: firstly, an internal limb, ie that the bonds will rank pari passu with each other; and, secondly, an external limb,
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48

African perspectives on sovereign debt restructuring: Conference held at Lake Victoria Serena Resort, Uganda, 6-8 August 2014 : conference report. Uganda Debt Network, 2015.

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49

Shemesh, Morli. The feasibility of a global sovereign restructuring regime. 2003.

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50

Akyüz, Yilmaz. Crisis Management and Resolution. Oxford University Press, 2017. http://dx.doi.org/10.1093/oso/9780198797173.003.0005.

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This chapter argues that the conventional approach to the management and resolution of external financial crises in emerging economies is inefficient and inequitable and needs to be reformed. Such reforms need to account for increased complexities arising from deepened integration, notably the difficulties in differentiating between external and domestic debt in terms of their holders, currency denomination, and governing laws. Effective debt resolution mechanisms would be needed to bail-in creditors whether the crisis is one of liquidity or solvency, or due to private or sovereign debt, or lo
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