Domestic Debt Restructuring, Central Bank, and Monetary Policy in EMDEs: Lessons from Recent Country Cases - Center for Global Development
Domestic Debt Restructuring, Central Bank, and Monetary Policy in EMDEs: Lessons from Recent Country Cases - Center for Global Development
Source: Center for Global Development
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DW NOTE
The Center for Global Development publishes a study on domestic debt restructuring in emerging markets at the precise moment when emerging markets are being systematically destroyed by energy prices 70% higher than a year ago. Ghana restructured in 2022 with oil at $80. Sri Lanka restructured in 2023 with oil at $75. Now oil is at $99 and the Strait of Hormuz has been closed for 230 days. The question is not what lessons recent cases offer — it is whether those lessons have any bearing on countries restructuring debt while fighting a 70% terms-of-trade shock.