31.   They rate not only publicly-traded bonds but have gone far to even rate sovereign debts.

32.   Until recently, officials had hoped such an IMF seal of approval would allow Venezuela to issue sovereign debt abroad at a lower cost.

33.   Financial experts in London said that the sovereign debt issue had opened the way for the Russian state and companies to tap the international capital markets.

34.   The United States and the IMF also appeared to be narrowing the gap on how to deal with future sovereign debt crises.

35.   The United States agrees on the need to handle sovereign debt crises more deftly.

36.   We strongly support the Funds continuing work on a sovereign debt restructuring mechanism.

37.   Some market players may see risks of a contagion given the currency pegs of Hong Kong, China and Malaysia and the high sovereign debt profile of the Philippines.

38.   The agreement, signed Tuesday, marks the second time the ministry has taken on international commercial loans in the form of sovereign debt.