 Sovereign Debt Restructuring Mechanism (SDRM) Conference IMF Seminars, Conferences and Workshops |
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ECONOMIC FORUMS AND INTERNATIONAL SEMINARS
A New Approach to Sovereign Debt Restructuring: An IMF Proposal Wednesday, January 22, 2003, 5:30 p.m.–7:00 p.m. IMF Auditorium (Enter via the IMF Center) 720 19th St. N.W., Washington, DC
Transcript of this conference View a webcast of this Economic Forum using Windows Media Player.
The question of how nations handle unsustainable sovereign debt has become a pressing issue for the international community. The Sovereign Debt Restructuring Mechanism (SDRM) is a proposal from the IMF designed to fill a gap in the global financial system for dealing with this problem. The mechanism would provide a framework for debtor nations and creditors to negotiate a debt restructuring in an orderly and timely fashion, so as to reduce uncertainty and economic dislocation. How would an SDRM work, and who would decide whether a country's sovereign debt burden is unsustainable? Would all sovereign debt be covered? What would be the IMF's role? How might the SDRM affect private sector flows to emerging markets and borrowing costs? The following panel will address these and related questions: Anne O. Krueger Jack Boorman (Moderator) Stéphane Pallez Agustín Carstens Ann Pettifor Barry Herman |