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Headline: Episode 3: Ukraine Source: Euromoney magazine Date: January 2000 Author: Michael Peterson The rules of the new game of sovereign bond default are gradually being written. Over the past year, the governments of the rich world have begun to send a clear message to countries in trouble: don’t expect your IMF and bilateral government loans to be rolled over while you continue to service international bonds. The result has been the birth of a new type of sovereign debt restructuring. |
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