The International Monetary Fund has begun to rethink how it should handle bailouts for countries that run into financial trouble, with staff suggesting private-sector creditors should regularly be required to bear some of the load.
The proposal is part of a major review the IMF has launched of its policies relating to sovereign debt restructurings that is expected to take up to a year.
It conducted its last review in 2005, but decided a fresh look was needed in light of a number of recent sovereign debt restructurings, including one by Greece, which was the largest ever.
via Business feed http://www.scmp.com/business/economy/article/1244958/imf-launches-broad-review-sovereign-debt-restructurings
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