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Negotiation is a common starting point in this process, where the debtor country and its creditors try to find mutually agreeable solutions. This can involve restructuring the debt, extending repayment terms, or adjusting interest rates to make the proces more manageable for the debtor nation. 

If negotiations fail, creditors may resort to legal action to enforce debt collection. This can include taking the debtor to international courts or arbitration tribunals. These legal proceedings can be quite complex and time-consuming.

In cases where a final judgment or arbitration award is obtained, and the debtor still refuses to pay, East West Debt can help to locate the debtor’s assets in order to enforce the judgment and/or award.

It's important to recognize that the collection of sovereign debt is a complex and sensitive process, with significant economic and political implications for both the debtor and creditor. Debt crises and defaults can lead to financial instability, economic downturns, and strained international relations. Therefore, finding mutually acceptable solutions through negotiation is generally preferred over litigation and/or default whenever possible.

-Asset tracing is a crucial aspect of debt recovery, especially in the context of sovereign debt collection. It involves locating and identifying the assets of a debtor to enforce a judgment or award. The process can be complex and challenging, particularly when dealing with sovereign debtors who may have assets in multiple jurisdictions. Here's a summary of how asset tracing works and the expertise of East West Debt in this area:

Asset Tracing Process:

1. Investigation: asset tracing begins with a thorough investigation to gather information about the debtor's assets. This may include real estate properties, bank accounts, investments, and other valuable holdings.
2. International network: East West Debt has developed an international network of asset tracers. This network includes experts with knowledge of local laws, regulations, and financial systems in various countries, making it easier to locate assets hidden across borders.
3. Specialized team: East West Debt has a dedicated asset tracing team with specialized knowledge and experience in this field. These experts are skilled in using various investigative techniques to uncover concealed assets.
4. Legal mechanisms: asset tracing often involves utilizing legal mechanisms to identify and seize the debtor's assets. This can include obtaining court orders, freezing assets, or pursuing legal actions in different jurisdictions.
5. Enforcement: once assets are located, they can be used to satisfy the debt owed. This may involve liquidating assets and transferring the proceeds to the creditor.

Sovereign debt collection is indeed a complex and sensitive process, and asset tracing plays a critical role in ensuring that creditors can recover what is owed to them. East West Debt's extensive experience and specialized asset tracing capabilities is a valuable resource for creditors seeking to enforce judgments or awards against a sovereign debtors, contributing  to the overall effectiveness of debt recovery efforts.