Traditionally, sovereign risk has been concentrated in emerging-market economies. After all, in the last decade or so, Russia, Argentina, and Ecuador defaulted on their public debts, while Pakistan, Ukraine, and Uruguay coercively restructured their public debt under the threat of default.
纽约 —— 如今，许多发达经济体财政赤字累累，政府债台高筑，已引发主权风险忧虑。以前，说起主权风险，人们主要想到新兴市场经济体。毕竟，在过去 10 年里，俄罗斯、阿根廷、厄瓜多尔曾发生公债违约，而巴基斯坦、乌克兰和乌拉圭靠着强行推进公债重组，才免于违约。