In This Review

Sovereign Debt: A Guide for Economists and Practitioners
Sovereign Debt: A Guide for Economists and Practitioners
Edited by S. Ali Abbas, Alex Pienkowski, and Kenneth Rogoff
International Monetary Fund, 2019, 464 pp.

The International Monetary Fund has a lot of experience in dealing with sovereign debt in its nearly 200 member countries. Its officers try to both persuade governments to adopt policies to reduce their overall debts and help those governments restructure their debts to reduce the burden on future budgets. The IMF held a conference in 2018 to collect this accumulated knowledge, and the result is this volume, with contributions from over 30 authors. The explosion of budget deficits as a result of the coronavirus pandemic suggests that this collected wisdom will be especially useful in future years, providing guidance on both what to do and what not to do.