Published in 1996, this IMF working paper prepared by Detragiache looks at the scenarios in which “creditworthy sovereign borrowers may be denied liquidity by rational creditors.” According to this paper, there can be circumstances where the “pessimistic expectations about the borrower's creditworthiness become self-fulfilling, and the borrower experiences a liquidity crisis.” This, Detragiache argues, can be avoided by ensuring the loan is marketed properly, and the actors develop a reputation for following good policies.