Kids, Here's How You do It: "Grenada Negotiates 50% Sovereign Debt Principle Reduction"

So Iran thinks they're pretty good at negotiating? puhleeeze, note the counterparty.
And Greece? Lightweights.
The thing about pros like Grenada, they make it look easy.
From ValueWalk:

As sovereign debt discussions take place in Greece, where negotiators are unable to obtain any principle reductions in debt, Grenada shines as a potential example of an orderly default renegociation [sic] process

The tiny Caribbean island nation of Grenada, with a population near 100,000, may be a bond investor’s nightmare that could also point to a solution for sovereign nations drowning in debt.

Bond holders, including one “vulture investor,” take a 50 percent haircut in sovereign debt
Grenada, which was hit by devastating hurricanes in succession starting in 2004, was devastated not only by Mother Nature but in the bond debt that followed. The island’s government, with close assistance from the U.S. government and religious organizations, successfully negotiated a 50 percent principal reduction in what the nation owes its primarily foreign bond holders.  The country is further negotiating for a “hurricane clause” in its new bond contracts that suspends payments if another natural disaster strikes the island.

After taking a 50 percent haircut on their bond investment, the foreign bondholders will receive a portion of revenues that may be generated by Grenada’s Citizenship by Investment program. The island nation is issuing new bonds in exchange for the U.S. and Eastern Caribbean dollar bonds that were due in 2025 and paid a 7 percent annual interest rate....MORE

Now, if Iran had a Citizenship by Investment program....