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Financial and/or macroeconomic instability can lead to sovereign debt servicing challenges. Following Kozak (2005) discuss how the debt sustainability of sovereigns can be measured after

Financial and/or macroeconomic instability can lead to sovereign debt servicing challenges. Following Kozak (2005) discuss how the debt sustainability of sovereigns can be measured after a debt restructuring event and how the different perspectives of debtors and creditors can be reconciled in this regard.

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