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Litigation

A growing number of developing countries have found themselves facing litigation on commercial debts which are not being paid or have fallen into arrears. This may be for a number of reasons including:

There are however steps countries can take to avoid lawsuits, which are discussed in Negotiating Debt Reduction in the HIPC Initiative and Beyond.

One of the most high profile litigations in recent years was the case of the Government of Zambia and Donegal International, for more information on this please go to unctad.org/dmfas.

Information on lawsuits is also published in the IMF’s annual Status of Implementation Report on the HIPC and MDRI initiatives.