ECOSOC special meeting on “External debt sustainability and development”
Pursuant to General Assembly resolution , the Economic and Social Council held a one-day meeting on “External debt sustainability and development: Lessons learned from debt crises and ongoing work on sovereign debt restructuring and debt resolution mechanisms”. Following a short opening plenary featuring remarks by the President of ECOSOC, Secretary-General of CTAD and the Assistant Secretary-General for Economic Development of DESA, senior panellists from the World Bank and academia discussed lessons learned from the history of debt crises. Subsequently, CTAD and DESA provided briefings on the ongoing work on sovereign debt restructuring and debt resolution mechanisms, followed by an interactive discussion.
The afternoon session featured a keynote address by Prof. Joseph Stiglitz, entitled “Gaps in legal and institutional structures for debt restructuring”. It was followed by a panel discussion on the “Architecture for debt restructuring” and an interactive discussion.
At the closing of the meeting, the President of ECOSOC made concluding remarks highlighting key points and common messages.
Background
- Background Information on organizational matters
- Journal Announcement 1
- Journal Announcement 2
- Programme (with links to presentations)
- Letter from the President of ECOSOC to Member States
- Provisional List of Participants
- Background Information on substantive matters
- Concept Note
- Expert Group Meeting on Sovereign Debt Restructuring, Informal summary
- Report of Experts’ Group Meeting on Sovereign Debt Restructuring
- Report of the Panel on Facilitating International Adjustment through Timely Debt Resolution
- IMF Working Paper WP12/203: Sovereign Debt Restructurings 1950–2010: Literature Survey, Data, and Stylized Facts