CITATION — REFERENCE ENTRY

IMF supports reforms for more orderly sovereign debt restructurings — IMF Survey

Revision f6480b90-afff-404b-82a5-5af7632e70bb · 10/6/2026, 3:36:47 PM UTC
Key
imf-2014-cac-pari-passu-reforms
Authors
IMF Survey
Issued
2014-10-6
Type
article-journal
Container
IMF Survey
Publisher
International Monetary Fund
Raw CSL JSON
{
  "URL": "https://www.imf.org/en/news/articles/2015/09/28/04/53/sonew100614a",
  "type": "article-journal",
  "title": "IMF supports reforms for more orderly sovereign debt restructurings",
  "author": [
    {
      "literal": "IMF Survey"
    }
  ],
  "issued": {
    "date-parts": [
      [
        2014,
        10,
        6
      ]
    ]
  },
  "accessed": {
    "date-parts": [
      [
        2026,
        10,
        6
      ]
    ]
  },
  "publisher": "International Monetary Fund",
  "container-title": "IMF Survey"
}

Claims

  1. In 2014 the IMF endorsed collective action clauses with a single voting procedure across all bond issuances, and a clarified pari passu clause requiring only equal legal ranking rather than ratable payment, to reduce holdout leverage.
    "pari passu requires only equal legal ranking, not ratable payment to all creditors"
    Quote language: en
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