By Ying Qian and Yan Wang Zhou Chengjun, Director of the Financial Research Institute of the People’s Bank of China, delivered a speech entitled “Building the Shanghai Model of Sovereign Debt Restructuring” at the fourth China International Finance 30 Forum held in Shanghai on May 29-30, 2021. His discussion centered on ideas for sovereign debt […]
In November 2020, Zambia became the first African country to default on its Eurobonds during the COVID-19 pandemic, bringing the country’s debt distress into headlines around the world. Bondholders’ refusal to provide debt suspension rested largely on fears that Zambia was not disclosing significant liabilities to Chinese creditors. In August 2021, national elections led to […]
By: Paula Torrez-Ortiz The Global Economic Governance Initiative (GEGI) within the Boston University Global Development Policy Center works to advance policy-relevant research on international financial, trade and development institutions that play a leading role in global economic governance. As part of this work, the GEGI research team has released four interactive research projects that serve […]
Since China began lending large quantities of money to the Global South in the mid- 2000s, suspicions have swirled that these loans compete with the International Monetary Fund (IMF), offering comparable amounts of money in exchange for very different promises. Whereas the IMF conditions its loans on commitments to economic reform, China typically lends for […]
By Xinyue Ma & Jake Werner The current debt sustainability framework and indicators employed by international financial institutions may be concealing as much as they reveal. The core of today’s World Bank–International Monetary Fund (IMF) debt sustainability framework is a set of debt ratio thresholds associated with the quality of a country’s policies and institutions, […]