{"id":9171,"date":"2022-11-10T13:54:00","date_gmt":"2022-11-10T13:54:00","guid":{"rendered":"https:\/\/eces.org.eg\/?p=9171"},"modified":"2023-10-31T09:38:54","modified_gmt":"2023-10-31T09:38:54","slug":"avoiding-too-little-too-late-on-international-debt-relief","status":"publish","type":"post","link":"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/","title":{"rendered":"Avoiding \u2018Too Little Too Late\u2019 on International Debt Relief"},"content":{"rendered":"\n<p><strong>Overview<\/strong>:<\/p>\n\n\n\n<p>This paper takes stock of the unfolding debt crisis across developing low- and middle-income countries and discusses how to break with the inertia in debt restructurings under the Common Framework for Debt Treatments (CF). Using data on credit ratings, debt sustainability ratings, and sovereign bond spreads the paper identifies 54 developing economies with severe debt problems. Given the global outlook of low growth and high interest rates, the international community must urgently step-up debt relief efforts to avert a deepening development crisis. The paper proposes a way forward for the CF focusing on issues of official creditor coordination, private creditor participation, and the use of state-contingent debt clauses that target future economic and fiscal resilience. Fundamentally, the paper argues that the focus must shift from debt rescheduling to comprehensive restructuring involving write-offs allowing countries a faster return to growth, financial markets, and development progress. A structurally different future of tighter funding conditions and higher frequency of climate disasters will require a re-think and ramp-up of official sector concessional lending to vulnerable developing economies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Overview: This paper takes stock of the unfolding debt crisis across developing low- and middle-income countries and discusses how to break with the inertia in debt restructurings under the Common Framework for Debt Treatments (CF). Using data on credit ratings, debt sustainability ratings, and sovereign bond spreads the paper identifies 54 developing economies with severe [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23368,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70],"tags":[],"class_list":["post-9171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-selected-books"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Avoiding \u2018Too Little Too Late\u2019 on International Debt Relief - ECES<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avoiding \u2018Too Little Too Late\u2019 on International Debt Relief - ECES\" \/>\n<meta property=\"og:description\" content=\"Overview: This paper takes stock of the unfolding debt crisis across developing low- and middle-income countries and discusses how to break with the inertia in debt restructurings under the Common Framework for Debt Treatments (CF). Using data on credit ratings, debt sustainability ratings, and sovereign bond spreads the paper identifies 54 developing economies with severe [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/\" \/>\n<meta property=\"og:site_name\" content=\"ECES\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-10T13:54:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-31T09:38:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/eces.org.eg\/wp-content\/uploads\/2023\/02\/10-11-2022-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"311\" \/>\n\t<meta property=\"og:image:height\" content=\"482\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin-eces-staging\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin-eces-staging\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/\"},\"author\":{\"name\":\"admin-eces-staging\",\"@id\":\"https:\/\/eces.org.eg\/#\/schema\/person\/7981d9621302fef3e6e0a1f65d658135\"},\"headline\":\"Avoiding \u2018Too Little Too Late\u2019 on International Debt Relief\",\"datePublished\":\"2022-11-10T13:54:00+00:00\",\"dateModified\":\"2023-10-31T09:38:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/\"},\"wordCount\":182,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/eces.org.eg\/#organization\"},\"articleSection\":[\"Selected Books\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/\",\"url\":\"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/\",\"name\":\"Avoiding \u2018Too Little Too Late\u2019 on International Debt Relief - ECES\",\"isPartOf\":{\"@id\":\"https:\/\/eces.org.eg\/#website\"},\"datePublished\":\"2022-11-10T13:54:00+00:00\",\"dateModified\":\"2023-10-31T09:38:54+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/eces.org.eg\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Avoiding \u2018Too Little Too Late\u2019 on International Debt Relief\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/eces.org.eg\/#website\",\"url\":\"https:\/\/eces.org.eg\/\",\"name\":\"ECES\",\"description\":\"The Egyptian Center For Economic Studies\",\"publisher\":{\"@id\":\"https:\/\/eces.org.eg\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/eces.org.eg\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/eces.org.eg\/#organization\",\"name\":\"ECES\",\"url\":\"https:\/\/eces.org.eg\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/eces.org.eg\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/eces.org.eg\/wp-content\/uploads\/2022\/12\/eces-logo-blue-text-beside.png\",\"contentUrl\":\"https:\/\/eces.org.eg\/wp-content\/uploads\/2022\/12\/eces-logo-blue-text-beside.png\",\"width\":1794,\"height\":324,\"caption\":\"ECES\"},\"image\":{\"@id\":\"https:\/\/eces.org.eg\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/eces.org.eg\/#\/schema\/person\/7981d9621302fef3e6e0a1f65d658135\",\"name\":\"admin-eces-staging\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/eces.org.eg\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/53bfa8ab3f374bc6d5f1b8efd03ab8a47e7162e412c1b93b788f5fe73e2927fd?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/53bfa8ab3f374bc6d5f1b8efd03ab8a47e7162e412c1b93b788f5fe73e2927fd?s=96&d=mm&r=g\",\"caption\":\"admin-eces-staging\"},\"sameAs\":[\"https:\/\/eces.org.eg\"],\"url\":\"https:\/\/eces.org.eg\/en\/author\/admin-eces-staging\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Avoiding \u2018Too Little Too Late\u2019 on International Debt Relief - ECES","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/","og_locale":"en_US","og_type":"article","og_title":"Avoiding \u2018Too Little Too Late\u2019 on International Debt Relief - ECES","og_description":"Overview: This paper takes stock of the unfolding debt crisis across developing low- and middle-income countries and discusses how to break with the inertia in debt restructurings under the Common Framework for Debt Treatments (CF). Using data on credit ratings, debt sustainability ratings, and sovereign bond spreads the paper identifies 54 developing economies with severe [&hellip;]","og_url":"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/","og_site_name":"ECES","article_published_time":"2022-11-10T13:54:00+00:00","article_modified_time":"2023-10-31T09:38:54+00:00","og_image":[{"width":311,"height":482,"url":"https:\/\/eces.org.eg\/wp-content\/uploads\/2023\/02\/10-11-2022-1.jpg","type":"image\/jpeg"}],"author":"admin-eces-staging","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin-eces-staging","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/#article","isPartOf":{"@id":"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/"},"author":{"name":"admin-eces-staging","@id":"https:\/\/eces.org.eg\/#\/schema\/person\/7981d9621302fef3e6e0a1f65d658135"},"headline":"Avoiding \u2018Too Little Too Late\u2019 on International Debt Relief","datePublished":"2022-11-10T13:54:00+00:00","dateModified":"2023-10-31T09:38:54+00:00","mainEntityOfPage":{"@id":"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/"},"wordCount":182,"commentCount":0,"publisher":{"@id":"https:\/\/eces.org.eg\/#organization"},"articleSection":["Selected Books"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/","url":"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/","name":"Avoiding \u2018Too Little Too Late\u2019 on International Debt Relief - ECES","isPartOf":{"@id":"https:\/\/eces.org.eg\/#website"},"datePublished":"2022-11-10T13:54:00+00:00","dateModified":"2023-10-31T09:38:54+00:00","breadcrumb":{"@id":"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/eces.org.eg\/en\/avoiding-too-little-too-late-on-international-debt-relief\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/eces.org.eg\/"},{"@type":"ListItem","position":2,"name":"Avoiding \u2018Too Little Too Late\u2019 on International Debt Relief"}]},{"@type":"WebSite","@id":"https:\/\/eces.org.eg\/#website","url":"https:\/\/eces.org.eg\/","name":"ECES","description":"The Egyptian Center For Economic Studies","publisher":{"@id":"https:\/\/eces.org.eg\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/eces.org.eg\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/eces.org.eg\/#organization","name":"ECES","url":"https:\/\/eces.org.eg\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/eces.org.eg\/#\/schema\/logo\/image\/","url":"https:\/\/eces.org.eg\/wp-content\/uploads\/2022\/12\/eces-logo-blue-text-beside.png","contentUrl":"https:\/\/eces.org.eg\/wp-content\/uploads\/2022\/12\/eces-logo-blue-text-beside.png","width":1794,"height":324,"caption":"ECES"},"image":{"@id":"https:\/\/eces.org.eg\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/eces.org.eg\/#\/schema\/person\/7981d9621302fef3e6e0a1f65d658135","name":"admin-eces-staging","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/eces.org.eg\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/53bfa8ab3f374bc6d5f1b8efd03ab8a47e7162e412c1b93b788f5fe73e2927fd?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/53bfa8ab3f374bc6d5f1b8efd03ab8a47e7162e412c1b93b788f5fe73e2927fd?s=96&d=mm&r=g","caption":"admin-eces-staging"},"sameAs":["https:\/\/eces.org.eg"],"url":"https:\/\/eces.org.eg\/en\/author\/admin-eces-staging\/"}]}},"_links":{"self":[{"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/posts\/9171","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/comments?post=9171"}],"version-history":[{"count":3,"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/posts\/9171\/revisions"}],"predecessor-version":[{"id":30212,"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/posts\/9171\/revisions\/30212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/media\/23368"}],"wp:attachment":[{"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/media?parent=9171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/categories?post=9171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/tags?post=9171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}