Fifth, debt burdens that cannot be eased by growth, savings, or inflation must be rendered sustainable through orderly debt restructuring, debt reduction, and conversion of debt into equity. This needs to be carried out for insolvent governments, households, and financial institutions alike.
第五，无法用增长、储蓄和通胀纾解的债务负担必须通过有序债务重组、债务削减和债权-股权转换让其变得可持续。资不抵债的政府、家庭和金融机构都需要经历这样一个过程。