African countries are essentially placed in the position of a supplicant appealing to the kindness of creditors.
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Articles on Sovereign debt
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Experts discuss the implications of Russia’s recent debt default for the global financial markets and Russia’s reputation
The idea: to use the credit channel by making foreign banks bear the consequences of the devaluation of the Russian currency.
Developing countries face greater risks raising money to deal with the pandemic. Zambia is now on the verge of being the first ‘COVID default’ and other developing countries could follow suit.
The global economy is currently experiencing its severest contraction since the 1930s. While capitalism will survive, its fundamental structure can change at critical historical junctures.
Argentina’s new President Alberto Fernández has no easy option to address yet another crisis.
The alarm being raised by multilateral financial institutions about rising government debt across Africa is exaggerated. The real problem is that African governments pay way over the odds for debt.
Almost one-third of countries around the world are authoritarian regimes with the trappings of democracy. Their bad behavior poses a threat to real democracies, as the United States recently learned.
African cities are failing to raise development funds through bond markets.
South Africa has narrowly escaped a downgrade of the rating of its sovereign bonds, but government has its work cut out as it seeks to restore investor confidence and lift economic growth.
Economic sense has been largely irrelevant in the unfolding Greek drama. Instead, morality has been at its heart.
At least a dozen sub-Saharan Africa countries have raised debt through sovereign bonds. The chickens are now coming home to roost.
Debt is the reason jitters for emerging markets are now worse than during the Asian financial crisis.
Credit rating agencies have come in for a lot of flack. But the bottom line is that to attract investors with deep pockets countries can’t avoid having a credit rating. And a good one at that.
A new IMF report predicts a crackdown on cheap credit in China will help reduce China’s real GDP growth rate from 7.4% last year to 6.8% this year and further weaken demand for Australian commodities.
Decades ago, before Yanis Varoufakis became the rock-star finance minister of Greece, he and I developed some game-theoretic models of macroeconomics. The gist of the work was this: for monetary authorities…
The same deep forces that were behind the election result in Queensland are being played out in Canberra. The Australian people want, although most won’t admit it, higher taxes – either now or in the future…
Since 2009, the economic situation of Greece has helped expose the architecture and policy regime problems of the European Union and the eurozone. On Sunday the Greek electorate rebelled against the self-defeating…
Sovereign debt, crises and default have been regular features of the Argentine economy for years – but the latest debt crisis, involving the government and the so-called “vulture funds”, has thrown up…
Sovereign debt is a crucial lubricant for growth, especially among emerging nations, and so it is equally crucial that we can ensure the interminable row over Argentina’s default is not repeated. Measures…
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Professor, Griffith Business School, Griffith University
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School of Social Sciences, Monash University
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Principal Fellow, Melbourne Business School
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Professor of Economics, University of Sydney
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ARC Laureate Fellow, KPMG Law - KWM Professor of Disruptive Innovation, Faculty of Law, UNSW Sydney
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Professor of Economics at Maastricht School of Management and Jean Monnet Chair, Technical University of Cologne
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Emeritus Professor of Finance, The University of Melbourne
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Assoc. Professor, European Studies, Swinburne University of Technology
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Honorary Professor of Economics, UCL
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Professor, Finance, UTS Business School, University of Technology Sydney
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Senior Lecturer, Department of Banking and Finance, Monash University
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Professor Emeritus of Economics, SOAS, University of London
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Senior Lecturer in Law, RMIT University
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Chair & Professor of International Business, University of Manchester
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Professor, School of Social and Political Sciences, The University of Melbourne
