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Accounting for sovereign debt restructurings under IPSAS

  • PSAS - IPSASB Image

May 21, 2015

On May 21, 2015, the staff of the International Public Sector Accounting Standards Board (IPSASB) released a short audio podcast and an accompanying publication to highlight how International Public Sector Accounting Standards (IPSASs) reflect the accounting consequences of sovereign debt restructuring transactions.

They both illustrate how IPSASs, at a high level of principle, capture the economic consequences of debt restructurings. The relevant standards (IPSASs 28–30) were developed in 2008 with reference to the IFRS financial instruments standards in place at that time (IAS 32, IAS 39, and IFRS 7); a project to update the standards with reference to the requirements of IFRS 9 has been added to the IPSASB's agenda.

Please click to access the podcast (6 minutes) and the accompanying publication (5 pages) on the IPSASB website.

Please click to access the podcast (6 minutes) and the accompanying publication (5 pages) on the IPSASB website.

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