SAVE THE DATE: Bringing all creditors onboard! Expert Roundtable on the challenge of creditor coordination in current sovereign debt  restructurings and potential political approaches (Hybrid-Event)

Invitation: 
Following 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. 
With this expert roundtable, erlassjahr.de, Brot für die Welt and Misereor, would like to discuss the following challenges 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? 

Organized by Brot für die Welt, erlassjahr.de and Misereor