{ "title": "Global Sovereign Debt Roundtable Co-Chairs Press Statement", "publication": "IMF News, April 12, 2023", "sourceUrl": "https://www.imf.org/en/news/articles/2023/04/12/pr23117-global-sovereign-debt-roundtable-cochairs-press-stmt", "canonical": "https://www.imf.org/en/news/articles/2023/04/12/pr23117-global-sovereign-debt-roundtable-cochairs-press-stmt", "overlayPath": "/en/news/articles/2023/04/12/pr23117-global-sovereign-debt-roundtable-cochairs-press-stmt/index.md", "summary": "The Global Sovereign Debt Roundtable (GSDR) met today and discussed debt sustainability and debt restructuring challenges and ways to address them.", "publishDate": "2023-04-12", "sections": [ { "heading": "Meeting purpose and participants", "content": "- Press Release No. 23/117\n- April 12, 2023\n- The Global Sovereign Debt Roundtable (GSDR) met to discuss debt sustainability and debt restructuring challenges and ways to address them.\n- Co-chairs releasing the statement: International Monetary Fund Managing Director Kristalina Georgieva, World Bank Group President David Malpass, and Indian Minister of Finance Nirmala Sitharaman.\n- Participants included:\n - Co-chairs: International Monetary Fund, World Bank, India (G20 Presidency)\n - Official bilateral creditors: China, France (as chair of the Paris Club), Japan, Saudi Arabia, United Kingdom, United States\n - Debtor countries: Ecuador, Ethiopia, Ghana, Sri Lanka, Suriname, Zambia\n - Other: Brazil (forthcoming 2024 G20 Presidency)\n - Private sector representatives: Institute of International Finance, International Capital Markets Association, BlackRock, Standard Chartered" }, { "heading": "Key findings and agreed priorities", "content": "- Urgent need to improve information sharing, including on macroeconomic projections and debt sustainability assessments, at an early stage of the restructuring process.\n- IMF and World Bank will rapidly issue staff guidance on information sharing at each stage of the restructuring process.\n- Role of Multilateral Development Banks (MDBs) discussed: provision of net positive flows of concessional finance is important.\n- The International Development Association’s (IDA) provision of positive net flows and the ex-ante implicit debt relief through increased concessionality and grants to countries facing higher risks of debt distress was welcomed." }, { "heading": "Actions to increase efficiency, predictability, and fairness in restructurings", "content": "- A workshop will be organized in the next weeks on how to assess and enforce comparability of treatment.\n- Further work will be undertaken on principles regarding:\n - cut-off dates\n - formal debt service suspension at the beginning of the process\n - treatment of arrears\n - perimeter of debt to be restructured, including with regards to domestic debt\n- This work will help clarify potential timetables to accelerate debt restructurings." }, { "heading": "Ongoing collaboration", "content": "- The IMF, World Bank and the G20 Presidency will continue to work closely together and with other partners to further support the international response to current debt challenges." }, { "heading": "Press contact", "content": "- IMF Communications Department\n- MEDIA RELATIONS\n- PRESS OFFICER: Nico Mombrial\n- Phone: +1 202 623-7100\n- Email: MEDIA@IMF.org\n- @IMFSpokesperson\n\nPress Release No. 23/117 — April 12, 2023\n\n---\n\n\n References\n\n- https://www.imf.org/en/about/senior-officials/bios/kristalina-georgieva\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2023/04/12/pr23117-global-sovereign-debt-roundtable-cochairs-press-stmt" } ], "bullets": [ "[Markdown version](/en/news/articles/2023/04/12/pr23117-global-sovereign-debt-roundtable-cochairs-press-stmt/index.md)", "[Structured JSON version](/en/news/articles/2023/04/12/pr23117-global-sovereign-debt-roundtable-cochairs-press-stmt/index.json)", "[Bundle manifest](/en/news/articles/2023/04/12/pr23117-global-sovereign-debt-roundtable-cochairs-press-stmt/bundle-manifest.json)", "Published: April 12, 2023", "Press Release No. 23/117", "April 12, 2023", "The Global Sovereign Debt Roundtable (GSDR) met to discuss debt sustainability and debt restructuring challenges and ways to address them.", "Co-chairs releasing the statement: International Monetary Fund Managing Director Kristalina Georgieva, World Bank Group President David Malpass, and Indian Minister of Finance Nirmala Sitharaman.", "Participants included:", "Urgent need to improve information sharing, including on macroeconomic projections and debt sustainability assessments, at an early stage of the restructuring process.", "IMF and World Bank will rapidly issue staff guidance on information sharing at each stage of the restructuring process.", "Role of Multilateral Development Banks (MDBs) discussed: provision of net positive flows of concessional finance is important.", "The International Development Association’s (IDA) provision of positive net flows and the ex-ante implicit debt relief through increased concessionality and grants to countries facing higher risks of debt distress was welcomed.", "A workshop will be organized in the next weeks on how to assess and enforce comparability of treatment.", "Further work will be undertaken on principles regarding:", "This work will help clarify potential timetables to accelerate debt restructurings.", "The IMF, World Bank and the G20 Presidency will continue to work closely together and with other partners to further support the international response to current debt challenges.", "IMF Communications Department", "MEDIA RELATIONS", "PRESS OFFICER: Nico Mombrial", "Phone: +1 202 623-7100", "Email: MEDIA@IMF.org", "@IMFSpokesperson", "[https://www.imf.org/en/about/senior-officials/bios/kristalina-georgieva](https://www.imf.org/en/about/senior-officials/bios/kristalina-georgieva)", "[PRESS CENTER](http://presscenter.imf.org/)", "[https://www.imf.org/en/home](https://www.imf.org/en/home)" ], "alternates": { "markdown": "/en/news/articles/2023/04/12/pr23117-global-sovereign-debt-roundtable-cochairs-press-stmt/index.md", "json": "/en/news/articles/2023/04/12/pr23117-global-sovereign-debt-roundtable-cochairs-press-stmt/index.json", "bundleManifest": "/en/news/articles/2023/04/12/pr23117-global-sovereign-debt-roundtable-cochairs-press-stmt/bundle-manifest.json" }, "generatedAtUtc": "2026-09-26T01:58:45.033Z" }