Economy

Making the Great Turnaround work

Making the Great Turnaround work

Published: 1 June 2022
Study

The long-term challenges have lost none of their significance – be it climate breakdown, species extinction, the increase in inequality, or demographic change. The challenge is to craft a strategic approach that can set the course for long-term success.

Debt Relief by Private Creditors: Lessons from the Brady Plan

Debt Relief for Green and Inclusive Recovery Project

Published: 1 October 2021

This paper reviews the main features of and experiences with the Brady Plan, which in 1989 laid the foundation for the restructuring of the sovereign debt of mainly Latin American countries. It argues that the combination of credit enhancement for restructured debt, moral suasion, and tax as well as regulatory relief to encourage private creditors to participate in debt restructurings may provide a template for addressing today's sovereign debt problems.