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New York’s Proposed “Sovereign Debt Stability Act”: An Overview

Since 2021, the New York Legislature has considered a number of draft bills aimed at facilitating sovereign debt restructurings and helping distressed sovereign debtors obtain the debt relief they require. While the draft...more

Climate Resilience as a Proposed New Feature of Sovereign Debt Instruments

Climate factors' impact on a debtor's ability to honor its obligations has been recognized for over 4,000 years. It was the Code of Hammurabi in Mesopotamia that first mandated a deferral of principal repayment and...more

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