Webinar: Responding to the Risks of COVID-19 Debt Distress

COVID-19 has produced an enormous global economic shock and ongoing risks to economic growth, poverty reduction progress, and sustainable development in many middle- and low-income countries (MICS and LICs). The fiscal consequences of the shock for many MICs and LICs are profound, often coming on top of rising debt vulnerabilities in the pre-crisis period. In a significant number of countries, foreign debt service is now a major constraint on fiscal space. G20 efforts to provide relief to poor countries have highlighted long-standing weaknesses in the international architecture for sovereign debt relief and restructuring. As we move into an uneven and uncertain recovery, with risks of volatility in global capital flows, the long-term costs of unresolved debt distress for both debtor and creditor countries will only increase.

Join the Center for Global Development, the Friedrich-Ebert-Stiftung New York and the Consensus Building Institute for a virtual discussion of the Roundtable Report: “Responding to the Risks of COVID Debt Distress”, a collective effort by a group of prominent experts to identify changes needed in the system. The discussion will focus on a set of recommendations to strengthen debt transparency and accountability, standards for sovereign debt contracts, comparable treatment of creditors, and the roles of international financial institutions in debt restructuring and fostering new investment. The discussion will include a presentation of the report and the views and reactions of a distinguished panel.

Register here.