In May 2022, the European University Institute will host the 5th Interdisciplinary Sovereign Debt Research and Management Conference - DebtCon5 in Florence, Italy. DebtCon5 will aim to discuss interdisciplinary research on sovereign debt and related policy issues, and to foster interaction among academics, senior policymakers and supervisors, industry representatives, and other practitioners; and will include high-level roundtables, where practice, policy and research will meet; and parallel sessions, where research papers will be presented.
The ongoing global public health crisis magnifies persistent sovereign debt problems and poses new ones of unprecedented scale and scope. Recognizing the need for creative, research-based solutions, a group of leading academic and policy institutions from around the world will co-host a virtual Distributed Interdisciplinary Sovereign Debt Research and Management Conference—D-DebtCon—in nine countries, spanning five continents, from September 7th through September 18th, 2020.
In a major enhancement of the sovereign debt restructuring process, the G20 and International Monetary Fund endorsed collective action clauses developed by the International Capital Market Association in 2014. These included a ‘single limb’ clause which would potentially allow all creditors to be bound into a restructuring in a single vote. However, this clause was not used in the Argentinian and Ecuadorian restructurings.
Virtual conversation with renowned debt restructuring expert Lee Buchheit and former chief economist for Latin American and the Caribbean of the World Bank Augusto de la Torre on the evolution of sovereign debt restructurings, with a focus on Ecuador.
On 10 June 2020, Sovereign Debt Forum experts and policy officials from the IMF and the World Bank consider the rising tide of debt distress, further aggravated by the COVID-19 pandemic, and review historical precedents, legal and policy options for managing the crisis in low- and middle-income economies.
DebtCon4 is scheduled to take place in September 2020. Format changes to adapt to the COVID-19 pandemic will be announced in June 2020. Prior DebtCon conferences have featured keynote remarks by finance ministers and central bank governors, research presentations by leading scholars and practitioners in law, economics, finance, history, sociology and anthropology, and panel discussions of pressing policy challenges, from climate change to financial technology.
In this "Rebuilding Macroeconomics" webinar on May 19, Rosa Lastra and Rodrigo Olivares-Caminal along with Alexander Douglas, Katharina Pistor and Franklin Allen look ahead to when the economy stabilizes, and firms and households have higher debt burdens.
In this webinar co-hosted by the London School of Economics (LSE) and the Centre for Economic Policy Research (CEPR) on May 7, Lee Buchheit, Mitu Gulati, and Ugo Panizza, along with Patrick Bolton, Pierre-Olivier Gourinchas, and Beatrice Weder di Mauro explain why low- and middle-income countries are particularly vulnerable, discuss what is at stake for the world economy, and present a mechanism to implement a debt standstill which would free significant resources to cover some of the more immediate costs of the COVID-19 crisis.
February 10, 2020
Anna Gelpern (Georgetown Law Professor) moderates conversation with Kristalina Georgieva (IMF Managing Director) and David Malpass (World Bank President) on the debt situation in lower-income economies.
December 19, 2019
Book launch featuring conversation with David Malpass (World Bank President) and Kenneth Rogoff (Harvard University) and panel discussion including Anna Gelpern (Georgetown Law).
The Sovereign Debt Forum Launch took place at the at the International Monetary Fund in Washington DC on 21 October 2019, in conjunction with the Annual Meetings of the IMF and the World Bank. The program featured remarks by Forum directors, affiliated scholars, officials from member universities, international financial institutions, the African Legal Support Facility, and the Netherlands Ministry of Finance. In addition, Official Consultative Group members representing the governments of France, Germany, the United Kingdom and the United States took part in the launch, along with a wide range of academics, civil society representatives, financial market participants, law practitioners, and policy makers.