The Sovereign Debt Acronym Show

DSA, SDR, DSSI. Sovereign debt insiders love to throw acronyms around in conversation to make us outsiders feel like, well . . . outsiders. Even the non-acronyms aren't exactly self-explanatory. Who knew the Paris Club isn't really a night club where sovereign debt folks hang out at after work? Aitor Erce, superstar sovereign debt scholar and veteran of multiple key institutions in the international financial apparatus (Bank of Spain, ESM) joins us to discuss the history and contemporary relevance of these institutions and to offer some critiques of how they function. We also talk about proposals to increase IMF allocations of SDRs in response to the covid crisis. And while we have Aitor, we ask how all of these acronyms – SDRs, DSAs, etc. -- play into the G20's Common Framework. All in all, lots to talk about. We will need to have Aitor back.