Sovereign Debt Defaults Dip in 1999 but Not for Long
Joelson, Daniel, Global Finance
A gradual increase in sovereign debt defaults is expected over the next decade.
After a dreadful period in the early 1990s, sovereign debt defaults continued to decline in 1999, registering a 2% drop from 1998, according to a new survey from Standard & Poor's. The year, which saw widespread economic distress and international markets rattled by a devaluation in Brazil, was marked by only one new default-albeit a very notable one in still-troubled Ecuador-as well as a drop in the total and average amounts of debt in default. Celebrations may be premature, however, as 1999's figures may represent little more than the lull before a storm of debt default. Analyzing the …
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Publication information:
Article title: Sovereign Debt Defaults Dip in 1999 but Not for Long.
Contributors: Joelson, Daniel - Author.
Magazine title: Global Finance.
Volume: 14.
Issue: 2
Publication date: February 2000.
Page number: 50+.
© Global Finance Media Inc. Feb 2009.
Provided by ProQuest LLC. All Rights Reserved.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
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