The creation of a sovereign
debt restructuring mechanism:
a broken promise?
SPEAKERS
H.E. Maria del Carmen SQUEFF
Permanent Representative of
Argentina to the United Nations
Ms Stephanie BLANKENBURG
Head, Debt and Development Finance
Branch, UNCTAD
Ms Iolanda FRESNILLO
Senior Policy and Advocacy Officer –
Debt Justice, Eurodad, Brussels
In September 2014 the United Nations
General Assembly adopted a resolution
(68/304) pledging
“to elaborate and adopt
through a process of intergovernmental
negotiations… a multilateral legal
framework for sovereign debt
restructuring processes with a view, inter
alia, to increasing the efficiency, stability
and predictability of the international
financial system… .
To date, no
”
framework has been created despite debt
levels rising unsustainably over the years.
The high cost of the Covid-19 pandemic
31 March 2021
09:00-10:00
(New York)
may cause countries to default on their
foreign debt.
The question of debt sustainability
and debt relief will loom large at the
upcoming Financing for Sustainable
Development Forum of the United
Nations in New York (12-15 April, 2021).
This briefing will shed light on the politics
and the technical aspects hampering
progress so far.
More background
here.
Briefing for MPs on UN processes
(in English and French)
Registration
here
Briefing N.4