Some Comments on IMF Paper on Restructuring Sovereign Debt
Working Paper #16
Stiglitz comments on the failure of the IMF Paper on Restructuring Sovereign Debt to note the importance of other conflicts of interest, the conflicts of interests among different creditors (including across different instruments) and the conflicts of interests between creditors and debtors.
About the Author
Initiative for Policy Dialogue (IPD)
Joseph E. Stiglitz is co-President of the Initiative for Policy Dialogue, and Chairman of the Committee on Global Thought at Columbia University. He is University Professor at Columbia, teaching in its Economics Department, its Business School, and its School of International and Public Affairs. He chaired the UN Commission of Experts on Reforms of the International Monetary and Financial System, created in the aftermath of the financial crisis by the President of the General Assembly. He is former Chief Economist and Senior Vice-President of the World Bank and Chairman of President Clinton’s Council of Economic Advisors. He was awarded the Nobel Memorial Prize in Economics in 2001.