Category Archives:

sovereign debt

Letter from Washington DC. The IMF’s Sovereign Debt Conference.

The IMF recently held a two-day public conference on sovereign debt at its home in Washington DC. How do we measure it? How have governments reduced it in the past, for example in the periods after the two World Wars? How can Japan carry debts of over 200% of GDP while other sovereigns have defaulted with virtually no public debt? And when things do go wrong, how do we sort out the mess of a re…

Watch the video

Bahrain: avoiding the first sovereign sukuk default?

Bahrain spreads have widened in recent months, despite the rise in oil prices. The market is focusing on the $750 million Bahrain Sukuk maturing on November 22, 2018. Given that the country’s international reserves are estimated at around $2.1 billion, the country will need additional funding to repay it.  The market consensus is that Bahrain will receive financial support from neighbouring Sau…

Read the article