26
Jun
2014
Politique étrangère Articles from Politique Etrangère
Norbert GAILLARD

The Nagging Problem of State Insolvency Politique étrangère, Vol. 79, No. 2, Summer 2014

Historically, states have indebted themselves to finance military campaigns. They do so nowadays for other reasons such as financing productive investment.

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The state is not a debtor like any other: in the instance of payment default, their creditors may have great difficulty recovering funds. The measure of sovereign risk is therefore a crucial issue with necessitates political, economic and financial expertise.

Article published in Politique étrangère, Vol. 79, No. 2, Summer 2014

 

This paper is published in French only: Le lancinant problème de l’insolvabilité des Etats

 

Keywords
country risk analysis Credit rating agencies debt