Sovereign Debt Restructuring

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작성자 Tangela
댓글 0건 조회 17회 작성일 24-08-03 16:51

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Not like individuals and companies, international locations indebted beyond their capacity to pay can't use bankruptcy laws to restructure unsustainable debt. The United Nations and the International Financial Fund have attempted to suggest treaties to enable that debt restructuring, but the political difficulties of reaching a worldwide consensus have stymied their efforts. This text argues that a model-law approach to restructuring unsustainable sovereign debt needs to be possible and 離婚 弁護士 efficient as a result of the vast majority of sovereign debt contracts are governed by the legal guidelines of either the debtor-state or two other jurisdictions. Those jurisdictions individually might enact a model law to give struggling nations an actual prospect of equitably restructuring their debt to sustainable levels. By enabling such debt restructuring, that enactment would also assist to foster the norms required to facilitate the event of worldwide treaties.


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