Defusing the Debt Time Bomb: The Role of an Effective Crisis Prevention and Resolution Architecture

More than 60 countries struggle with high debt burdens and payments, but too few of them make use of the debt restructuring mechanisms available, whether through or outside the G20's Common Framework.

Continued debt payments come at the expense of health, social, climate and other priorities - even cutting or delaying pensions and public sector wages. Unfortunately, eventual restructurings are inevitable and are more costly for a countries people, their creditors and our planet.

This panel event, which took place as part of the World Bank/IMF Annual Meetings in Marrakech, Morocco, discussed what needs to change in the debt architecture to encourage and deliver early, prompt and sufficient debt reductions. 

Speakers:

• Eric LeCompte (moderator) - Executive Director, Jubilee USA Network
• Matthew Martin - Director, Development Finance International
• Lidy Nacpil - Coordinator, Asian Peoples' Movement on Debt and Development
• Guillaume Chabert - Deputy Director, Strategy, Policy and Review Department, International Monetary Fund (IMF)
• Yuefen Li - Co-Chair, Debt Relief for a Green and Inclusive Recovery
• Bodo Ellmers - Director of Financing for Sustainable Development Program, Global Policy Forum
• Salwa Trabelsi - Professor, ESSECT, University of Tunis

Sponsors

• Debt Relief for a Green and Inclusive Recovery
• African Forum and Network on Debt and Development – AFRODAD
• Arab NGO Network for Development
• Arab Watch Regional Coalition
• Asian Peoples’ Movement on Debt and Development
• Caritas Africa
• Debt Justice Norway
• Erlassjahr
• European Network on Debt and Development – Eurodad
• Friedrich Ebert Stiftung-NY
• Global Policy Forum
• Jesuit Justice and Ecology Network Africa – JENA
• Jubilee USA Network