Policy insights

Policy Insights

Policy Insight 103: Born Out of Necessity: A Debt Standstill for COVID-19

Many low and middle income countries may face problems servicing their external debts while addressing the COVID-19 emergency. Urgent action is needed to prevent disorderly defaults and litigations. This Policy Insight describes a mechanism to implement a debt standstill which would free significant resources to cover some of the most immediate costs of the COVID-19 crisis.

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Panizza, U, C Hsieh, M Gulati, P Gourinchas, L Buchheit and P Bolton (eds)