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DTSTART:20230101T000000
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DTSTART;TZID=UTC:20231211T130000
DTEND;TZID=UTC:20231211T180000
DTSTAMP:20260607T225339
CREATED:20231201T193106Z
LAST-MODIFIED:20231204T120442Z
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SUMMARY:Expert Roundtable: Bringing all creditors on board!
DESCRIPTION:Expert Roundtable on the challenge of creditor coordination in current sovereign debt restructurings and potential political approaches\nMonday\, 11 December 2023\, 1 pm CET – 6 pm CET \nBrot für die Welt\, Caroline-Michaelis-Straße 1\, Berlin and online\n \nFollowing the Covid19 pandemic\, first debt restructurings in countries of the Global South are either underway or have already been implemented. It is apparent that\, despite the creation of new exchange formats and mechanisms\, the complex coordination of creditors hinders a rapid and sustainable resolution of debt crises. The restructurings negotiated under the Common Framework for Zambia and Chad – as well as outside of it for Suriname or Sri Lanka – all follow the same pattern: In order to obtain the consent of all creditors\, real debt relief is minimal. In consequence\, the agreements fail to restore debt sustainability. While risks for creditors are hedged\, downside risks for debtor countries are not addressed. Holdout creditors sue and threaten to undermine debt restructuring negotiations\, a problem that exists for decades. Geopolitical tensions between China and the West threaten to further complicate negotiations. The resulting policy of the lowest common denominator comes at the detriment of the people in those critically indebted countries. It threatens the fundamental economic and social rights of the people\, and by constraining the fiscal space of debtor countries the achievement of the Sustainable Development Goals (SDGs) and the international climate targets. \nBased on the proposal from erlassjahr.de\, Brot für die Welt and Misereor: “Bringing all creditors onboard without settling for a minimum consensus” the following challenges shall be discussed with policy makers\, researchers and civil society representatives: How can private sector involvement in deep debt restructurings be ensured? Does the preferred creditor status of multilateral creditor institutions need to be reconsidered? How can constructive cooperation with China succeed without settling for a minimum consensus? \nRegistration\nPlease register by 30th November 2023:\nhttps://eveeno.com/BringingAllCreditorsOnboard \nLast minute registration still possible. \nContact\nMalina Stutz\, erlassjahr.de (E-Mail) \nUte Straub\, Brot für die Welt (E-Mail) \nKlaus Schilder\, Misereor (E-Mail) \nAgenda\n12:30 – 13:00             Arrival \n13:00 – 13:10             Welcome remarks \n13:10 – 13:40             Keynote: Problems arising from creditor coordination in current debt restructurings \n\nPenelope Hawkins (tbc.) (Director of the Debt branch\, UNCTAD)\n\n13:40 – 14:50             Panel discussion I: Ensuring private creditor participation in sufficiently deep debt restructurings! \n\nDaniel Reichert-Facilides (German lawyer)\nGuillaume Chabert (Deputy Director\, SPR Department at the IMF)\n\n\nIshac Diwan (Research Director of the Finance for Development Lab at the Paris School of Economics)\nNona Tamale (tbc.) (Makerere University Kampala and Fellow with the African Sovereign Debt Justice Network)\n\n14:50 – 15:20             Break \n15:20 – 16:30             Panel discussion II: Comparable Treatment of multilateral creditors – what does that mean? \n\nMarina Zucker-Marques (Researcher at SOAS University of London)\nMatthew Martin (Director of Development Finance International)\nAxel van Trotsenburg (tbc.) (Managing Director of Operations\, Worldbank)\n\n16:30 – 16:40             Comfort Break \n16:40 – 17:50             Panel discussion III: Keeping China at the table without settling for minimal consensus! \n\nDeborah Bräutigam (online) (Director of the China Africa Research Initiative and Professor of Political Economy Emerita at Johns Hopkins University)\nNora Sausmikat (tbc.) (China Desk\, Urgewald)\nAhilan Kadirgamar (online) (University of Jaffna\, Sri Lanka)\nChristoph Trebesch (tbc.) (Director for International Finance and Macroeconomics at Kiel Institute for the world economy)\nRobert Plachta (Head Division “Debt Restructuring and Paris Club” at the German finance ministry)\n\n17:50 – 18:00             Closing remarks \nFollowed by an informal reception \nFurther information\nPosition paper: “Bringing all creditors on board! What the German government can do to ensure the participation of all creditors in comprehensive debt cancellation.” (2023)\, by erlassjahr.de\, Brot für die Welt and Misereor
URL:https://erlassjahr.de/en/termin/expert-roundtable-bringing-all-creditors-on-board/
LOCATION:Brot für die Welt\, Caroline-Michaelis-Strasse 1\, Berlin
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