Managing and Understanding Sovereign Debt Risks and Restructuring
Course Instructor: Lee C. Buchheit (Cleary Gottlieb Steen & Hamilton LLP); Mitu Gulati (Duke University); Jeromin Zettelmeyer (Peterson Institute of International Economics)
Area: Risk Management
This course will focus on the following topics:
- Sovereign default and restructuring risk;
- How do sovereign borrowers get into trouble?
- The warning signs of sovereign distress.
- Initial maneuvers to escape and evade the crisis.
- The options when the initial maneuvers don’t work — bailout or restructure
- The evolution of sovereign debt restructuring techniques — 1982 to 2017
- The role of the official sector
- Contractual provisions that facilitate, or that retard, sovereign debt workouts
- Sovereign debt restructuring after Greece and Argentina
This course is targeted at EBA, SSM, SRB, ESRB, EU officials, financial stability and legal department experts in Central Banks, Ph.D. students, private sector members, law firms and practitioners.