The list of sovereign debt crises involves the inability of independent countries to meet its liabilities as they become due. These include:
Debts could be owed either to private parties within a country, to foreign investors, or to other countries.
The following table includes actual sovereign defaults and debt restructuring of independent countries since 1557.[1]
Country | Date | Type, causes, consequences, and references |
---|---|---|
China | 1921 | [2] |
China | 1932 | [2] |
China | 1939 | [2] |
Indonesia | 1966 | [6] |
Iran | 1990 | [citation needed] |
Iran | 1992 | [citation needed] |
Japan | 1942 | [citation needed] |
Japan | 1946–52 | Due to an over-issued national bond amounting to more than twice as GDP, bank accounts were blocked (bank blockade[2] | )
Jordan | 1989 | [citation needed] |
Kuwait | 1990–91 | [2] |
Lebanon | 2020 | Lebanon defaulted on US$1.2 billion in Eurobonds.[7] |
Myanmar | 1984 | [2] |
Myanmar | 1987 | [2] |
Myanmar | 2002 | [citation needed] |
Mongolia | 1997–2000 | [2] |
North Korea | 1975–1990 | [8] |
Ottoman Empire | 1876 | [citation needed] |
Ottoman Empire | 1915 | [citation needed] |
The Philippines | 1983 | [citation needed] |
Sri Lanka | 2022 | 2019–present Sri Lankan economic crisis[9][10] |
Thailand | 1997–2007 | 1997 Asian financial crisis. |
Turkey | 1931 | [citation needed] |
Turkey | 1940 | [citation needed] |
Turkey | 1978 | [citation needed] |
Turkey | 1982 | [citation needed] |
Vietnam | 1975 | [2] |
Country | Date | Type, causes, consequences, and references |
---|---|---|
Australia | 1931 | Australia defaulted on its entire stock of domestic debt owed to bond and note holders. See Great Depression in Australia |
Solomon Islands | 1995–2004 | [2] |