All News
-
Out now: Global Sovereign Debt Monitor 2023
Despite the slight recovery of the global economic situation in 2021 before the beginning of the Ukraine war, the debt situation in the majority of countries in the Global South remains tense. While policy-makers are calling for the improvement of debt relief procedures, the interests of different creditor groups are…
Read more ... -
In Search for Consensus. A Sovereign Insolvency Procedure as a Way Out of the Debt Crisis?
“The issue of sustainable debt is probably one of the biggest challenges we're currently facing. We are talking about fighting climate change, we're talking about global challenges such as migration, digital transformation. And when certain countries are facing an unsustainable level of debt, we really need to have a new…
Read more ... -
New focus paper: The Potential of National Legislation for the Fair Resolution of Global Debt Crises
To effectively deal with debt crises, it is crucial to ensure the participation of all creditors, especially private creditors in debt relief measures. But how can uncooperative creditors be prevented from suing for their claims in national courts, thereby undermining multilateral agreements? This new focus paper examines the potential that…
Read more ... -
G7 campaign: Global Justice needs #CancelTheDebt!
The pandemic has exacerbated the debt situation in the Global South: 135 out of 148 countries are critically indebted. More than three times as many countries as before the pandemic are already in debt crisis or directly threatened by debt distress. While there are insolvency procedures for individuals and companies, there is no…
Read more ... -
Out now: Global Sovereign Debt Monitor 2022
In the context of the COVID-19 pandemic, the global debt situation has deteriorated. Countries in all regions of the world will emerge from the pandemic with unsustainable debt levels. While it was possible to avoid a massive sovereign default wave in 2021, in many cases, this was only possible through…
Read more ... -
New Focus Paper: Vulnerability as a basis for debt relief
In the current handling of sovereign debt crises, creditors separate countries into needy and non-needy according to their income levels. This has led to questionable results in the past. On the initiative of countries that were excluded from debt relief despite a high risk of over-indebtedness, the United Nations has…
Read more ... -
WORLD BANK: COMMON FRAMEWORK INSUFFICIENT
After the IMF Director Kristalina Georgieva had already pointed out the inadequacies of the Common Framework of the G20 for the restructuring of sovereign debt in clear words in December, the World Bank is now following suit. In the Global Economic Prospects published on 11 January, the authors dedicate a…
Read more ... -
New analysis: No more loans? How creditors torpedo debt relief initiatives
The debt relief initiatives established in the context of the COVID-19 crisis threaten to fail because poorer countries are reluctant to participate. One reason for this is the claim made primarily by private creditors that the beneficiaries of debt relief exclude themselves long-term from the capital market. However, more important…
Read more ... -
New Analysis: The Tunisian debt crisis in the context of the COVID-19 pandemic: Debt repayments over human rights?
At the beginning of the pandemic in spring 2020, it was not so much the health crisis, which hit developing countries like Tunisia hard. While Europe and the US struggled with the health impact of the pandemic, it was the global economic impact, which devastated the Tunisian economy. In April…
Read more ... -
New Focus Paper: Debt Sustainability in Times of Climate Disaster and Corona
In recent years, the effects of the climate crisis, exacerbated since March 2020 by the impact of the coronavirus pandemic, have graphically highlighted what it means for heavily-indebted countries to be hit by external shocks. While the international debt architecture has responded, nevertheless, little has changed in terms of its…
Read more ...