Professor Rodrigo Olivares-Caminal, Of Counsel at Kepler-Karst Law Firm and a renowned expert in debt restructuring, has published an article for the United Nations emphasizing the importance of preventive measures to avoid sovereign debt crises.
In the article, Prof. Olivares-Caminal argues that debt restructurings often fail to address the root causes of financial difficulties, focusing primarily on reactive solutions rather than proactive prevention. He stresses the need for a more comprehensive approach that includes rigorous assessment of new debt, adherence to transparency standards, and the promotion of sound macroeconomic policies.
The article pays particular attention to countries with limited economic resources and a high risk of default. Prof. Olivares-Caminal underscores the importance of implementing good governance practices to prevent unsustainable debt accumulation.
- “Preventing Debt Crises”, co-authored, L’Observateur des Nations, 2022-2, vol. 3
You can read the full article here.
Access the Spanish version here.
