Spain calls for disaster ‘pause clauses’ for developing nation debt

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Financial Times 5d ago

Spain calls for disaster ‘pause clauses’ for developing nation debt - Financial Times

Quick Summary:

Madrid also wanted to make the pauses a standard feature of a G20 common framework for lending to poor nations, as well as some middle-income ones, Conthe added.

Some analysts say it is very difficult to design pause clauses that derive specific triggers from disasters such as drought, which can be harder to measure.

Conthe said that the Covid-19 pandemic showed how an exogenous shock can threaten a fiscally prudent country’s ability to repay debt in the short term.