debt restructuringnoun [ U ]
uk/ˈdet riːˌstrʌk.tʃə.rɪŋ//ˈdet riːˌstrʌk.tʃɚ.ɪŋ /specializedthe process of changing the form of a company's or country's debt so that it can pay what it owes later, and continue to operate:
Economists warn that some form of devaluation or debt restructuring may eventually be necessary.