Sovereign Debt Defaults & Restructuring


List of modern Sovereign Debt Defaults or Debt Restructuring

The following list includes actual sovereign defaults and debt restructuring of independent countries from 1800 till 2012

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Africa
Algeria (1991)
Angola (1976, 1985, 1992-2002)
Cameroon (2004)
Central African Republic (1981, 1983)
Congo (Kinshasa) (1979)
Côte d’Ivoire (1983, 2000)
Gabon (1999–2005)
Ghana (1979, 1982)
Liberia (1989–2006)
Madagascar (2002)
Mozambique (1980)
Rwanda (1995)
Sierra Leone (1997–1998)
Sudan (1991)
Tunisia (1867)
Egypt (1876, 1984)
Kenya (1994, 2000)
Morocco (1983, 1994, 2000)
Nigeria (1982, 1986, 1992, 2001, 2004)
South Africa (1985, 1989, 1993)
Zambia (1983)
Zimbabwe (1965, 2000, 2006 (see Hyperinflation in Zimbabwe)

Mexico 1910 4% Gold bond

Americas
Antigua and Barbuda (1998–2005)
Argentina (1827, 1890, 1951, 1956, 1982, 1989, 2002-2005 (see Argentine debt restructuring))
Bolivia (1875, 1927, 1931, 1980, 1986, 1989)
Brazil (1898, 1902, 1914, 1931, 1937, 1961, 1964, 1983, 1986–1987, 1990)
Canada (Alberta) (1935)
Chile (1826, 1880, 1931, 1961, 1963, 1966, 1972, 1974, 1983)
Colombia (1826, 1850, 1873, 1880, 1900, 1932, 1935)
Costa Rica (1828, 1874, 1895, 1901, 1932, 1962, 1981, 1983, 1984)
Dominica (2003–2005)
Dominican Republic (1872, 1892, 1897, 1899, 1931, 1975-2001 (see Latin American debt crisis), 2005)
Ecuador (1826, 1868, 1894, 1906, 1909, 1914, 1929, 1982, 1984, 2000, 2008)
El Salvador (1828, 1876, 1894, 1899, 1921, 1932, 1938, 1981-1996)
Grenada (2004–2005)
Guatemala (1933, 1986, 1989)
Guyana (1982)
Honduras (1828, 1873, 1981)
Jamaica (1978)
Mexico (1827, 1833, 1844, 1850, 1866, 1898, 1914, 1928-1930s, 1982)
Nicaragua (1828, 1894, 1911, 1915, 1932, 1979)
Panama (1932, 1983, 1983, 1987, 1988-1989)
Paraguay (1874, 1892, 1920, 1932, 1986, 2003)
Peru (1826, 1850, 1876, 1931, 1969, 1976, 1978, 1980, 1984)
Surinam (2001–2002)
Trinidad and Tobago (1989)
United States (1779 (devaluation of Continental Dollar); 1971 gold standard abandoned

Uruguay (1876, 1891, 1915, 1933, 1937, 1983, 1987, 1990)

Venezuela (1826, 1848, 1860, 1865, 1892, 1898, 1982, 1990, 1995–1997, 1998, 2004)

China-Republic-1921 8%

Asia
China (1921, 1932, 1939)
Japan (1942, 1946-1952)
India (1958, 1969, 1972)
Indonesia (1966, 1998, 2000, 2002)
Iran (1992)
Iraq (1990)
Jordan (1989)
Kuwait (1990–1991)
Myanmar (1984, 1987, 2002)
Mongolia (1997–2000)
The Philippines (1983)
Solomon Islands (1995–2004)
Sri Lanka (1980, 1982, 1996)
Vietnam (1975)

GermanBonds1965

 

Europe
Albania (1990)
Austria-Hungary (1796, 1802, 1805, 1811, 1816, 1868)
Austria (1938, 1940, 1945)
Bulgaria (1932, 1990)
Croatia (1993–1996)
Denmark (1813) (see Danish state bankruptcy of 1813)
France (1812)
Germany (1932, 1939, 1948)
Hesse (1814)
Prussia (1807, 1813)
Schleswig-Holstein (1850)
Westphalia (1812)
Greece (1826, 1843, 1860, 1893, 1932, 2012)
Hungary (1932, 1941)
The Netherlands (1814)
Poland (1936, 1940, 1981)
Portugal (1828, 1837, 1841, 1845, 1852, 1890)
Romania (1933)
Russia (1839, 1885, 1918, 1947, 1957, 1991, 1998)
Spain (1809, 1820, 1831, 1834, 1851, 1867, 1872, 1882, 1936-1939)
Sweden (1812)
Turkey (1876, 1915, 1931, 1940, 1978, 1982)
Ukraine (1998–2000)
United Kingdom (1822, 1834, 1888–89, 1932)
Yugoslavia (1983)

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