CoSS-UWI Collaborative PhD Scholarship: Informal Creditors and Sovereign Debt Restructuring in Barbados and the Caribbean
The CoSS-UWI Collaborative PhD Scholarship offers a unique opportunity to investigate the role of informal creditors in sovereign debt restructuring, with a special focus on Barbados and the Caribbean. Sovereign debt crises have profound impacts on citizens, particularly those who contribute to the finances of the debtor state through taxes, national insurance, and other means. These informal creditors, whose claims are rooted in a social contract, are often excluded from debt restructuring processes, which typically prioritize formal creditors. This exclusion raises critical issues of inter-creditor equity and affects the sustainability and effectiveness of debt restructuring mechanisms.
This interdisciplinary project combines economic theory, empirical research, and legal analysis to explore how including informal creditors in sovereign debt restructuring can address both equity and efficiency concerns. The research will strengthen the conceptual and empirical foundations of the Bridgetown Initiative and inform debt restructuring policies in Barbados and other Caribbean economies. The project is particularly relevant given the recent debt restructuring in Barbados under the BERT programme, which resulted in significant economic and social consequences for citizens.
The University of Glasgow, a world top 100 university and member of the Russell Group, hosts this scholarship within its College of Social Sciences. The Adam Smith Business School, renowned for its triple crown accreditation (AACSB, EQUIS, AMBA), provides a vibrant research environment. As a PhD student, you will have access to advanced MSc courses, participate in Economics workshop programmes, and benefit from the College of Social Sciences Graduate School Research Training Programme.
Eligibility for this scholarship is restricted to citizens of Commonwealth Caribbean Nations who are current students, staff members, or alumni of the University of the West Indies. Applicants must hold a good Masters degree (or overseas equivalent), demonstrate a strong interest in the research topic, and be able to study full-time. The PhD candidate is expected to be physically based at the University of Glasgow; distance study is not permitted.
Funding is available for eligible candidates, covering full tuition and a stipend. The application deadline is April 20, 2026. For more information about the Economics PhD programme and the research environment, visit the University of Glasgow's postgraduate research page.
This scholarship is ideal for candidates interested in economics, law, finance, and policy, who wish to contribute to impactful research addressing real-world challenges in sovereign debt restructuring and social equity in the Caribbean.
