Informal Creditors and Sovereign Debt Restructuring with a Special Focus on Barbados and the Caribbean

This interdisciplinary PhD project examines how sovereign debt restructuring (SDR) processes can be redesigned to better account for the role of informal creditors—citizens whose economic contributions (e.g., taxes, social contributions) are typically excluded from restructuring decisions. The research will combine economic theory, empirical analysis, and legal perspectives to address issues of equity and efficiency in SDR. It focuses particularly on Caribbean economies, with Barbados as a key case study following its 2018–2019 debt restructuring under the BERT programme. The project will explore how excluding informal creditors affects outcomes such as public welfare, economic stability, and long-term debt sustainability. It will also contribute to policy debates, including initiatives like the Bridgetown Initiative and broader global debt reform frameworks. Findings aim to strengthen both academic understanding and practical policymaking in sovereign debt restructuring, particularly in vulnerable economies.

Strong Master’s degree (or equivalent) in a relevant field
• Demonstrated interest in economics, public policy, or development
• Must be a citizen of a Commonwealth Caribbean nation
• Must be a current student, staff member, or alumnus of the University of the West Indies
• Ability to study full-time in Glasgow

Apply through the university’s PhD application system with all required academic documents