Government Debt in Rough Waters: A Navigation Guide

How governments learn to live with such debt levels or find orderly — or less orderly — ways to reduce them will have a critical impact on people’s lives across the world.

In this report, Lazard’s Sovereign Advisory Group examines ways to improve outcomes for governments facing a debt reckoning. The report explores key characteristics of today’s sovereign debt landscape:

• The wide variation in public debt levels across countries and the fact that each country’s capacity for debt is highly idiosyncratic
• The complex policy trade-offs faced by governments at risk of financial distress
• How a significant evolution in the creditor base is changing the dynamics of debt restructuring
• How the process of debt restructuring could be made smoother

Download the review to read the findings in full.