Download or read book Inefficient Private Renegotiation of Sovereign Debt written by Kenneth Kletzer and published by World Bank Publications. This book was released on 1990 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private renegotiation of debt repayments and new loans is inefficient because of the creditors' seniority privileges and lack of commitment and the inadequate information creditors have about debtors' policy choices.