BWC Member Gary Kleiman recently analyzed the sovereign debt restructuring developments at the IMF-World Bank Spring Meetings, where a flurry of new initiatives took center stage amid a notably calmer backdrop than in recent years. Kleiman highlights the uneven progress of high-profile default cases — including Ethiopia’s still-unresolved $1 billion debt dispute — as well as emerging proposals like “pause clauses” that would suspend payments for up to a year following natural disasters or armed conflict.

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All views expressed by members are their own and not reflective of the views of the Bretton Woods Committee.