Global Sovereign Debt Roundtable

Last Updated: December 12, 2023

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1. What is the GSDR?

The objective of the Global Sovereign Debt Roundtable is to build greater common understanding among key stakeholders involved in debt restructurings, and work together on the current shortcomings in debt restructuring processes, both within and outside the Common Framework, and ways to address them.

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2. What issues does it cover?

The focus of the Global Sovereign Debt Roundtable is on process and standards, not to discuss country cases. The GSDR does not replace existing restructuring mechanisms such as the Common Framework. Instead, it supports those mechanisms by fostering greater common understanding on concepts and principles, which will in turn facilitate individual restructurings. For example, the Roundtable has facilitated common understanding on information sharing and the role of MDBs in restructuring processes. It has also advanced discussions on the topics of cutoff dates, comparability of treatment, defining the debt restructuring perimeter, debt service suspension and arrears, issues in domestic debt restructurings, and the use of state contingent debt instruments, among other topics.

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3. Who participates in the GSDR?

The roundtable is co-chaired by the IMF, World Bank and G20 Presidency (currently Brazil) and comprises official bilateral creditors (both traditional creditors members of the Paris Club and new creditors), private creditors and borrowing countries.

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4. When does the GSDR meet?

The GSDR started its work in February 2023. It has met in the context of the 2023 IMF-WB Spring and Annual meetings at Principal levels, with several technical or preparatory meetings in between, and will continue to meet in 2024 in a similar fashion.