State Insolvency
/ˈsteɪt ɪnˈsɒlvənsi/
Definitions
- (n.) The condition in which a sovereign state is unable to meet its debt obligations or financial liabilities.
The country declared state insolvency after defaulting on its international loans.
Forms
- state insolvency
Related terms
See also
Commentary
State insolvency primarily refers to sovereign financial distress distinct from private insolvency; assessing it often involves sovereign immunity and international law considerations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.