Past Event at IMF/World Bank Spring Meetings: “How to Make External Debt Sustainable”

Wednesday, April 9, 2014, 2:45 p.m. – 3:45 p.m.
World Bank, Main Complex MC building 2-210, Washington D.C.

Eric LeCompte (Executive Director, Jubilee USA Network), Lee C. Buchheit (Partner, Cleary Gottlieb Steen & Hamilton LLP) and Kristina Rehbein (erlassjahr.de).

Since the outbreak of the world recession in 2008 many countries have run into serious debt sustainability problems. The International Monetary Fund has acknowledged what academics have warned against for years: multilateral debt relief initiatives have not solved the global sovereign debt crisis “once and for all”. Part of the problem is the lack of a generally accepted definition of a sustainable debt level for sovereigns.
Against this sobering background FES, erlassjahr.de and Jubilee USA encourage discussion of the link between the technical definition of debt sustainability and its translation into meaningful debt restructuring. How can timely and sufficient debt relief be provided? What are the missing links in global sovereign debt management? The panel discussion provided input from policy makers as well as academic experts and civil society representatives with a long-standing record of advocating for fairness and transparency in sovereign debt workouts.

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