World Economy

Debt Restructuring

Debt RestructuringDebt Restructuring

The United Nations voted to begin negotiations on a legal framework for sovereign debt restructuring with a view to clamping down on “vulture funds” at the center of Argentina’s July debt default, Dow Jones said. The General Assembly’s committee voted by 128 to 16 to set up a new body to create, over the next nine months, new international standards to govern debt restructuring.