Despite the fact that several developing countries now have stronger economic fundamentals than they did in the 1990s, sovereign debt crises will return, as they have repeatedly done through hundreds of years of world history. The reasons for this are several, but the central one is that economic fluctuations are inherent features of financial markets, the boom and bust nature of which intensify under liberalized financial environments, such as those that all countries have increasingly adopted since the 1970s.
Remarks by Martín Guzmán at 12th Edition of the Paris Forum: Key findings and conclusions of the Jubilee Report
Dear members of the Paris Club Secretariat, Thank you for the invitation to present some of the key findings and conclusions of the Jubilee Report, commissioned by Pope Francis and prepared by a Commission of
Martín Guzmán
Joseph Stiglitz
Ignacio González