Propuestas de un nuevo enfoque para afrontar las crisis de deuda soberana
We study the proposal to set up a new international legal system to regulate the restructuring of sovereign debts when these debts reach unsustainable levels. We examine the reasons that explain why such a regulatory framework is needed to guide the debt restructuring processes, the role of collecti...
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| Format: | Online |
| Langue: | espagnol |
| Éditeur: |
El Colegio de México
2016
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| Accès en ligne: | https://estudiossociologicos.colmex.mx/index.php/es/article/view/1449 |
| Institution: |
Estudios Sociológicos |
| Résumé: | We study the proposal to set up a new international legal system to regulate the restructuring of sovereign debts when these debts reach unsustainable levels. We examine the reasons that explain why such a regulatory framework is needed to guide the debt restructuring processes, the role of collective action clauses (CACS) in sovereign debt contracts as possible substitutes to such a framework, as well as the 2001-2002 imf proposal and the reasons for its abandonment. We also analyze the experience of the generalized use of CACS and their lessons for the consequences of a possible adoption of a legal system for the restructuring of sovereign debts. |
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