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IMF Advances 'Sovereign Bankruptcy' Concept

Date: September 29, 2002

Author: Paul Blustein

QUOTE: Top economic policymakers attending the annual meetings of the International Monetary Fund and World Bank agreed yesterday to speed efforts to develop a "sovereign bankruptcy" procedure for countries in debt crises.

ABSTRACT: Economic policy makers, in conjunction with the International Monetary Fund and the World Bank, want to formulate a "sovereign bankruptcy" policy, which might reduce the severity of a country’s debt. Financiers oppose the idea, stating that it would limit rights of creditors in those indebted countries.
--- C. Heimbuch-Skaley

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Article MetaInformation:

Key People:

• Paul H. O'Neill
• Masajuro Shiokawa

Key Organizations:

• FATF (Financial Action Task Force on Money Laundering, The)
• International Monetary Fund (IMF)
• Treasury Department/Department of the Treasury
• Washington Post Company
• World Bank Group

Subject & Geographic Categories:

• Businesses & Organizations
  • Industry-Specific Issues
    • Banking/Lending

• Government & Politics / History
  • Government (General)
    • Government Spending
      • Accounting / Budgets: Government

• Social Sciences & Groups
  • Economics: General
    • World Trade
      • US Trade Relations

• Asia
  • East Asia
    • Japan
    • South Korea (Republic of Korea)

• North America
  • United States of America/USA

• South America
  • Argentina
  • Brazil

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