000			02611nam a22002177a 4500
999			_c5190 _d5190
005			20230316124127.0
008			230316b ||||| |||| 00| 0 eng d
020			_a9781032198651
082			_a332.7091724 _bCAS
100			_aCash, Daniel _911987
245			_aSovereign debt sustainability: _bmultilateral debt treatment and the credit rating impasse
260			_bRoutledge _aNew York _c2023
300			_aviii, 143 p.
365			_aGBP _b120.00
504			_aTable of Contents Introduction 1. A Modern History of Debt Treatment for African Countries 2. The Impact of the Covid-19 pandemic 3. The DSSI, The Common Framework, and the Credit Rating Impasse 4. Resolving the Credit Rating Impasse: Part One 5. Resolving the Credit Rating Impasse: Part Two 6. The Future for Africa Conclusion
520			_aIn 2020, the G20 proposed a solution for the debt-related issues affecting the world’s poorest countries due to the COVID-19 pandemic. However, their initiatives have failed to meet their objectives. The author argues that the reason for this failure is the inability to bring sovereign countries to the table to re-negotiate their debt agreements with private creditors as they fear credit rating agencies and the prospect of a downgrade. The author refers to this as the ‘credit rating impasse’. This book proposes a novel solution. The author asserts that there is a need in the literature to unpick the dynamic that exists and creates that impasse, namely the pressures that exist between sovereign states, private creditors, credit rating agencies, and the geo-political backdrop that is massively influential in the dynamic, that is, the adversarial relationship between China and the US. This book addresses the recent history of debt treatment for poorer countries and related successes and failures: COVID-19-related issues and the development of the Debt Service Suspension Initiative and the Common Framework for Debt Treatment. This book examines the reasons for their failure by analysing the positions of the sovereign states, the division between private and official creditors and between multilateral institutions such as the IMF and the World Bank, credit rating agencies, and the competing political entities of China and the US. It presents a wider picture of the systemic underpinnings to such debt-related issues and, when examined through a geo-political perspective, the subsequent chances of future debt treatment-related successes.
650			_aSovereign debt _912316
650			_aMultilateral deb _912317
650			_aCredit rating _912318
942			_2ddc _cBK