Why Not Use GDP-Linked Bonds?

Yannis Manuelides heads Allen & Overy’s Sovereigns and International Institutions practice group and has played a key role in shaping the legal terms of sovereign loan contracts, including the template for GDP-linked bonds. We talk with Yannis about why governments have been reluctant to use GDP-linked bonds and about different drafting practices in London and New York. We also chat (skeptically) about the so-called “common framework” to deal with the Covid-induced crisis in the sovereign debt world.

Producer: Leanna Doty