Bibliografía: p. 14-18.

This paper surveys early intellectual antecedents of the Krueger (2001) proposal for creating bankruptcy reorganization prodedures at the international level. We focus on actual proposals for new procedures made from the late 1970s up to an influential lecture by Sachs (1995), with brief reference to the formal economics literature on sovereign debt. Beginning with a analogy with domestic bankruptcy prodedures, an understanding of the inefficiences in international lending that might justify such procedures, and specific institutional and legal suggestions that continue to play a role in the current debate.