Macro Analysis /
Global

Limited number of sovereign defaults so far in 2021 defies expectations

  • We count only two defaults so far this year, after six last year, confounding earlier fears of a rush to default

  • And the two cases this year (Belize and Suriname) are not new, having defaulted last year too

  • Ethiopia risks being the third; El Salvador, Mozambique, Republic of Congo, Sri Lanka and Tunisia also seen at high risk

Limited number of sovereign defaults so far in 2021 defies expectations
Stuart Culverhouse
Stuart Culverhouse

Head of Sovereign & Fixed Income Research

Tellimer Research
9 August 2021
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