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Online: The global debt crisis and the role of private creditors


The results of the G20 initiatives to relieve the debt of the Global South, which has been hard hit economically by the pandemic, are sobering. Many eligible countries are reluctant to enter into negotiations. They fear that debt relief will cut off their long-term access to private capital markets and cause them to lose the confidence of private investors. These concerns have been reinforced by creditors, especially from the private sector. And the G20? Despite its commitment to private sector participation in the Common Framework for Debt Treatments, it has so far not found the political will to make such participation mandatory. However, this would be a key step to shield debtor countries from uncooperative creditors and achieve substantial debt relief.

In the run-up to the joint meeting of G20 health and finance ministers this October we have invited international experts from academia, government, and financial institutions to discuss the following questions among others:

Is there empirical evidence that debt relief excludes countries from much-needed development finance?
On what grounds could the participation from the private sector in official debt relief initiatives, comparable to other creditors, be expected?
In what ways can the G20 compel private sector participation and equal burden-sharing?

You are warmly welcome to join us for this debate. Please save the date.

Sharing responsibilities as well as benefits?
The global debt crisis and the role of private creditors
Thursday, 28 October 2021
3:00-4.30p.m. CET / 9:00-10:30a.m. EST

This online debate will be hosted through the online video communications platform ZOOM, a service provided by ZOOM Video Communications, Inc., a company based in the United States of America. On the basis of a bilateral contract, approved by the European Commission, the Friedrich-Ebert-Stiftung and ZOOM have agreed that ZOOM will limit itself exclusively to the collection and processing of the data required for hosting the online debate. For further details, please visit the "ZOOM Global Data Processing Addendum", which you can access here.

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