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09.04.2014 09:47 Age: 110 days
Category: Press Releases

IMF High Level Panel Advisory


MEDIA ADVISORY

April 8, 2014

 

"How to Make External Debt Sustainable?"

A panel discussion among policy makers, academics and civil society

When:  Wednesday April 9, 2014, 2:15 pm - 3:45 pm

What: High-Level International Debt Panel

Since the outbreak of the world recession in 2008, countries as diverse as Greece, Grenada, Burundi and Ukraine have run into serious debt sustainability problems. Ultimately even the IMF had to acknowledge what academics have been warning against for years: Multilateral debt relief initiatives such as HIPC and MDRI have not solved the global sovereign debt crisis "once and for all". A recent IMF staff paper has identified some of the reasons for this in the set-up of global debt management, but has stopped short of making proposals for remedy.

One of the key elements of any debt restructuring process is the definition of a sustainable debt level for sovereigns. IFIs have developed various methodologies for distilling definitions for a sustainable debt out of a plethora of economic data and political circumstances. The panel discussion will provide 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.

Where:
 World Bank, "Eye" Building, Room 2-210 Washington D.C.

Sponsored By: Friedrich-Ebert-Stiftung New York Office, Jubilee USA Network and Jubilee Germany (erlassjahr.de)  

Speakers:

Sara Burke, Senior Policy Analyst, Friedrich-Ebert-Stiftung, New York Office

Eric LeCompte, Executive Director, Jubilee USA Network

Adrian Cosentino, Head of Debt Restructuring Unit, Ministry of Economy and Public Finance of Argentina, Former Argentine Minister of Finance
"Debt Sustainability as a Pillar of Sustainable Development"

Lee C. Buchheit, Partner, Cleary Gottlieb Steen & Hamilton LLP
"Sovereign Fragility -- When Does Access Become Addiction?"

Aldo Caliari, Director, Rethinking Bretton Woods Project, Center of Concern
"Definitions of Debt Sustainability"

Kristina Rehbein, erlassjahr.de
"The Global Debt Map: Who is in trouble today, and who is close to it?"

Timothy Antoine, Permanent Secretary, Grenada Ministry of Finance

Marco Cavaliere, Advisor to Executive Director for Azerbaijan, Kazakhstan,

Kyrgyz Republic, Poland, Serbia, Switzerland, Tajikistan, Turkmenistan (OEDSZ)

Jubilee USA Network is an alliance of more than 75 US organizations, 400 faith communities and 50 Jubilee global partners. Jubilee's mission is to build an economy that serves, protects and promotes participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world's poorest people.  www.jubileeusa.org

To arrange interviews, photo or on camera opportunities contact:

Arielle Retrosi, Interim Communications Director 

arielle@jubileeusa.org/ (o) (202) 783-3566 (m) (518) 524-8789

      

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