Eurodad: The Debt Games
Is there A way out of The Maze?
When a country faces unsustainable sovereign debt, it cannot simply declare bankruptcy like a private entity. To avoid default, governments may keep borrowing, raise taxes, mobilize domestic resources for revenue, or cut public spending, which can negatively impact human rights, especially women’s rights. These measures usually only delay default. Pre-emptive debt restructuring is often avoided due to potential credit rating downgrades and market access loss. Upon default, a government must renegotiate debt terms with its creditors.
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