Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts

Nopic
As part of the Fund’s ongoing work on sovereign debt restructuring, in October 2014 the Executive Board endorsed the inclusion of key features of enhanced pari passu provisions and collective action clauses (CACs) in new international sovereign bonds.1 Specifically, the Executive Board endorsed the use of: (i) a modified pari passu clause that... READ MORE...

Publication date: September 2015
ISBN 9781498344210
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