Sovereign DebtSymposium

Setting the Scope of and the Limits to the Incremental Approach to Sovereign Debt Restructurings

Anyone interested in legal issues surrounding sovereign debt should pay careful attention to the last special edition of the Yale Journal of International Law in which a framework is set forth to ensure the progressive development of orderly sovereign debt restructurings (SDRs). This prospective agenda relies upon a principles-based approach to SDR that revolves around various soft-law instruments, such as UNCTAD Principles on Promoting Responsible Sovereign Lending and Borrowing, as …