Ep 179 - Ethiopia’s Value Recovery Instruments

Ethiopia’s Value Recovery Instruments

Value recovery instruments are a great idea in theory and a disaster in practice. The idea is to let investors share in the upside of a country’s recovery. But governments rarely want to pay and the instruments quickly migrate into the hands of investors with little stake in the recovery. Everyone involved looks to exploit loopholes. And since the instruments seemingly are drafted at the last minute, there are plenty of those. But maybe after several tries, Ethiopia has found a way to crack the code?

Producer: Leanna Doty