## Global Sovereign Debt Roundtable Co-Chairs Press Statement

_IMF News, April 12, 2023_

## Source details

**Canonical URL:** [Global Sovereign Debt Roundtable Co-Chairs Press Statement](https://www.imf.org/en/news/articles/2023/04/12/pr23117-global-sovereign-debt-roundtable-cochairs-press-stmt)

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## Bibliographic details
- Published: April 12, 2023

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### Meeting purpose and participants
- 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:
  - Co-chairs: International Monetary Fund, World Bank, India (G20 Presidency)
  - Official bilateral creditors: China, France (as chair of the Paris Club), Japan, Saudi Arabia, United Kingdom, United States
  - Debtor countries: Ecuador, Ethiopia, Ghana, Sri Lanka, Suriname, Zambia
  - Other: Brazil (forthcoming 2024 G20 Presidency)
  - Private sector representatives: Institute of International Finance, International Capital Markets Association, BlackRock, Standard Chartered

### Key findings and agreed priorities
- 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.

### Actions to increase efficiency, predictability, and fairness in restructurings
- 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:
  - cut-off dates
  - formal debt service suspension at the beginning of the process
  - treatment of arrears
  - perimeter of debt to be restructured, including with regards to domestic debt
- This work will help clarify potential timetables to accelerate debt restructurings.

### Ongoing collaboration
- 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.

### Press contact
- IMF Communications Department
- MEDIA RELATIONS
- PRESS OFFICER: Nico Mombrial
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org
- @IMFSpokesperson

*Press Release No. 23/117 — April 12, 2023*

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## References

- [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)

_Source: https://www.imf.org/en/news/articles/2023/04/12/pr23117-global-sovereign-debt-roundtable-cochairs-press-stmt_