Webinar: Criteria for a Sovereign Debt Restructuring Process – JAN 27 – New Rules for Global Finance Coalition


What We DoSovereign Debt ConsultationWebinar: Criteria for a Sovereign Debt Restructuring Process – JAN 27

Webinar: Criteria for a Sovereign Debt Restructuring Process – JAN 27

Webinar Recording Now Available

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Help shape the debate on debt.

Despite the recurring challenges with debt crises, there is still no reliable and predictable process for dealing with sovereign debt problems.

As part of a global consultation on “Sovereign Debt Restructuring,” a webinar series is being organized to deepen dialogue, exchange proposals and answer technical questions. It will also serve as a platform for alternative issues, proposals and ideas that are ignored or unaddressed. We expect to organize 10-15 webinars between December 2014 and May 2015.

In this second webinar, we invite you to a discussion on the criteria necessary for an effective and fair sovereign debt restructuring process. Matthew Martin, Director of Debt Relief International and Development Finance International, will begin by articulating principles that have guided the years of debt negotiations he has been involved in. Commentators will be invited to compare Matthew’s proposed principles with those mentioned in the first webinar by Jurgen Kaiser (Principles for Settling Sovereign Debt Disputes, pages 17-18) and the market-based principles for private creditors and sovereign debtors as articulated by Hung Tran, Executive Managing Director at the International Institute of Finance (Principles for Stable Capital Flows and Fair Debt Restructuring, beginning on page 10). Where do these principles overlap? Where do they differ? What do YOU think?

As several subsequent webinars will focus specifically on different proposals for restructuring processes, it will be useful to keep a list of necessary criteria in mind to evaluate each proposed process. Criteria will help manage the expectations of all parties involved, ultimately providing an element of “feasibility” in addition to ensuring fairness and transparency.

The overall goal of this process is to develop a “handbook” for policy-makers that will provide information on all possible options for restructuring sovereign debt. Evaluations based on established criteria will serve to bolster the consultation findings.

Webinar II: Criteria for a Sovereign Debt Restructuring Process
Tuesday, January 27
9:00 AM EST

 

Agenda

  1. Matthew Martin, Director of Debt Relief International and Development Finance International, will begin by articulating principles that have guided the years of debt negotiations he has been involved in.

  2. Hung Tran, Executive Managing Director at the International Institute of Finance, will present the IIF’s principles

  3. Mikis Hadjimichael, a former IMF official and former Director of Emerging Markets Policy at the IIF, will comment on the current state of debate on sovereign debt restructuring and recent implementation of the Principles

  4. Andrew Hanauer, Campaigns Director for Jubilee USA, will review the criteria in light of the needs of developing countries.

  5. Open Discussion: Participants are invited to discuss, critique, and expand upon the criteria for an effective and fair sovereign debt restructuring process.

We encourage you to review the principles that will serve as the basis of the webinar, and invite any additional “principles” to be part of this discussion on criteria.