The current approach to resolving sovereign debt crises does not work sovereign debt restructurings come too late and do too little While this problem is not new the United Nations and the global community are now willing to do something about it Providing guidance for those who intend to take up reform this book assesses the relative merits of various debt restructuring proposals especially in relation to the main deficiencies of the current nonsystem The current approach to resolving sovereign debt crises does not work sovereign debt restructurings come too late and do too little Providing guidance for those who intend to take up reform this book assesses the relative merits of various debt restructuring proposals especially in relation to the main deficiencies of the current nonsystem