Covid-19

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.
Debt for Climate Opportunities in South Africa

Debt for Climate Opportunities in South Africa

Published: 5 January 2021

South Africa’s economy, which was already in a precarious state before Covid-2019, has been tipped into full blown crisis by the pandemic. Gross na-tional government debt  is expected to be upwards of 86% within two years. Eskom, which is the country’s state-owned monopolistic and vertically integrated electricity utili-ty, is a key driver of this escalating debt profile and lies at the heart of the economy’s structural challenges.