LEADER 03495nam 22004453a 450 001 9910831811303321 005 20231108184546.0 010 $a9781000802542 010 $a100080254X 024 8 $ahttps://doi.org/10.4324/9781003261223 035 $a(CKB)5670000000607070 035 $a(ScCtBLL)5cb91d68-286a-4282-beae-13b38b2a63a1 035 $a(EXLCZ)995670000000607070 100 $a20231108i20222022 uu 101 0 $aeng 135 $auru|||||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 00$aSovereign Debt Sustainability : $eMultilateral Debt Treatment and the Credit Rating Impasse /$fDaniel Cash 210 1$a[s.l.] :$cTaylor and Francis,$d2022. 215 $a1 online resource (155 p.) 225 1 $aRoutledge International Studies in Money and Banking 330 $a"<P>In 2020, the G20 proposed a solution for the debt-related issues affecting the world's poorest countries due to the COVID-19 pandemic. However, their initiatives have failed to meet their objectives. The author argues that the reason for this failure is the inability to bring sovereign countries to the table to re-negotiate their debt agreements with private creditors as they fear credit rating agencies and the prospect of a downgrade. The author refers to this as the 'credit rating impasse'.</P> <P>This book proposes a novel solution. The author asserts that there is a need in the literature to unpick the dynamic that exists and creates that impasse, namely the pressures that exist between sovereign states, private creditors, credit rating agencies, and the geo-political backdrop that is massively influential in the dynamic, that is, the adversarial relationship between China and the US.</P> <P>This book addresses the recent history of debt treatment for poorer countries and related successes and failures: COVID-19-related issues and the development of the Debt Service Suspension Initiative and the Common Framework for Debt Treatment. This book examines the reasons for their failure by analysing the positions of the sovereign states, the division between private and official creditors and between multilateral institutions such as the IMF and the World Bank, credit rating agencies, and the competing political entities of China and the US. It presents a wider picture of the systemic underpinnings to such debt-related issues and, when examined through a geo-political perspective, the subsequent chances of future debt treatment-related successes.</P> <P>Licence line: The Open Access version of this book, available at www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.</P> <P></P>" 410 $aRoutledge International Studies in Money and Banking 606 $aBusiness & Economics / International / Economics & Trade$2bisacsh 606 $aBusiness & Economics / Corporate Governance$2bisacsh 606 $aBusiness & Economics / Finance$2bisacsh 606 $aEconomics 615 7$aBusiness & Economics / International / Economics & Trade 615 7$aBusiness & Economics / Corporate Governance 615 7$aBusiness & Economics / Finance 615 0$aEconomics. 700 $aCash$b Daniel$0848303 801 0$bScCtBLL 801 1$bScCtBLL 906 $aBOOK 912 $a9910831811303321 996 $aSovereign Debt Sustainability$92999828 997 $aUNINA