THE WORLD BANK GROUP A World Free of Poverty

As part of the wider effort to improve the stability of the international financial system in the aftermath of the East Asia Crisis, The World Bank is leading an initiative to identify principles and guidelines for sound insolvency systems and for the strengthening of related debtor-creditor rights in emerging markets. Insolvency systems provide a pre-determined set of rules and institutions concerned with the recognition of insolvency, the resultant liquidation or rehabilitation of the insolvent firm, and the allocation of the financial consequences between the stakeholders. They also permit lenders to more accurately price risk and encourage cash flow lending rather than relationship or politically-directed lending, and discipline managers to allocate scarce resources efficiently.

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Insolvency & Creditor Rights Standard
(Draft 2005)

Principles for Effective Insolvency & Creditor Rights Systems

  • Revised Insolvency & Creditor Rights Principles (Draft 2005)
  • Insolvency & Creditor Rights Principles (April 2001)

ICR ROSC Methodology

Bank Questionnaire

  Argentina [167kb]
Also available in Spanish.
  Chile (pdf-301kb)
  Czech Republic [357kb]
  Lithuania [396kb]
  Morocco [90kb]
Also available in French [90kb]
  Mauritius [287kb]
  Slovakia [310kb]

Proposed ROSC Standard for Insolvency and Creditor Rights Systems


In the context of the joint World Bank (Bank) and International Monetary Fund (Fund) Initiative on Standards and Codes, insolvency and creditor rights (“ICR”) constitutes one of the twelve areas for which assessments are to be undertaken.  more...


The ICR ROSC Standard is being posted for public review and comment.  All interested persons are invited and encouraged to review and comment on the attached document.