Sovereign finances survived the global recession, just barely in some cases, but now Puerto Rico and Venezuela are insolvent. While the reasons for their plight may differ, there are lessons common to all defaults that investors and citizens should heed.
Nov 30, 2017 Carmen M. Reinhart predicts that key similarities between Puerto Rico and Venezuela will emerge as their debt sagas play out.
Oct 6, 2016 Ricardo Hausmann & Mark Walker examine the perils holdout creditors now pose for countries, like Venezuela, facing sovereign default.
Nov 9, 2015 Joseph E. Stiglitz & Martín Guzmán believe that restructuring should be subject to nine principles adopted in September by the UN.
Sep 2, 2015 Anne O. Krueger says that the US and the island's government both bear responsibility for the deepening crisis.
Jan 6, 2025 Peter Singer
Jan 3, 2025 Raghuram G. Rajan
Jan 3, 2025 Adam Nelson & May Butoy
Jan 2, 2025 Andrés Velasco
From cutting taxes to raising tariffs to eroding central-bank independence, US President-elect Donald Trump has made a wide range of economic promises, many of which threaten to blow up the deficit and fuel inflation. But powerful institutional, political, and economic constraints, together with Trump’s capriciousness, have spurred disagreement about how worried we should be.
