Domestic debt restructuring can disrupt monetary policy and strain banking systems. Drawing on 17 restructuring episodes and cases from Jamaica, Barbados, and Ghana, Udaibir S. Das and David Grigorian examine the implications for economic recovery. https://go.cgdev.org/4eCSzuD
go.cgdev.orgDomestic Debt Restructuring, Central Bank, and Monetary Policy in EMDEs: Lessons from Recent Country CasesDomestic debt restructuring (DDR) in emerging markets and developing economies is a monetary and financial event as much as a fiscal one. DDR reallocates losses across three interconnected balance she...
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