Dr Margot Salomon (LSE Law) has added her name to an open letter by leading academics and economists calling for sovereign debt restructuring, including debt relief, in the wake of the COVID-19 crisis. The letter pushes back against attempts by some of Argentina’s holdout creditors to return to a predatory system that undermines orderly debt restructuring arrangements. Their actions reflect a particularly regressive step that enriches the few at the expense of a socially and economically sustainable response to Argentina’s debt crisis. Dr Salomon remarks that international best practice rejects these self-interested schemes and instead requires that human well-being, social protection and the socio-economic rights of the Argentinian people are recognised as paramount in the settlement.
read the letter in full in the Guardian