Professor Rodrigo Olivares-Caminal, Of Counsel at Kepler-Karst Law Firm, has published a working paper for the Global Policy Institute focusing on the critical need to prevent over-indebtedness and to establish a more effective debt management framework.
The COVID-19 pandemic dealt a severe economic blow to sovereign states worldwide, exacerbating financial vulnerabilities. In 2021, the International Monetary Fund warned of the heightened risk of default for countries with low tax revenues and certain emerging economies, struggling to meet their debt obligations amidst economic adjustments.
Prof. Olivares-Caminal's working paper proposes potential solutions to create a sustainable debt framework in the aftermath of the global economic downturn. The paper highlights the difficulties faced by countries such as Zambia, Grenada, Mozambique, and Zimbabwe in restructuring their external debt and regaining access to international financial markets.
“The Debt Burden: How to Create a Better Debt Management Framework”, co-authored, Global Policy Institute Working paper, July 2021.
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