Books To Read

In the world of emerging debt markets, two books explore the relationship between creditors and debtors during crises. One, 'Banks Borrowers and the Establishment,' offers great insights. The other, 'Debt Games,' takes a game theoretic approach to analyze the strategic interactions between creditors and debtors leading up to a failure to pay. While past experiences can help us understand the current situation, there are still unknowns. We must remain humble about what we truly know. 'Debt Games' by Vinad Agrewal delves into the complexities of international debt rescheduling.