Georgetown Law’s Institute of International Economic Law and the Sovereign Debt Forum are delighted to invite you to a virtual panel to mark the release of the International Monetary Fund’s Reviews of the Fund’s Sovereign Arrears Policies and Perimeter on Thursday, May 26, at 9 am EDT. The expert panel will discuss the findings of the IMF policy review against the background of rising public and private debt stocks, and acute sovereign debt vulnerabilities in a growing number of countries around the world. The IMF’s arrears policies have been a critical element in the international debt crisis management toolkit since the 1980s, and have evolved to reflect big changes in global capital flows and crisis dynamics.
This virtual conversation takes place in conjunction with DebtCon5, our flagship Interdisciplinary Sovereign Debt Research and Management Conference, with in-person events hosted by the European University Institute (EUI) May 25 – 27, 2022 in Italy, and additional virtual sessions hosted by academic partners in Colombia, Morocco, and the United States.
About “Reviews of the Fund’s Sovereign Arrears Policies and Perimeter”
When IMF member governments that miss debt payments to their creditors seek financing from the Fund, its sovereign arrears policies govern the conditions under which it can lend. The IMF reviews its policies periodically to reflect changing circumstances and learn from experience. Sovereign borrowers in 2022 must contend with a more complex creditor landscape, and new information and coordination challenges. The recently completed policy review informs the latest changes to the IMF’s sovereign arrears policies, designed to help members address creditor coordination and transparency concerns, and was endorsed by the Executive Board of the IMF earlier this month. This is the last step in a multi-year modernization of the Fund’s legal and policy framework for treatment of sovereign debt in IMF financing.
Agenda and Speakers
Lee Buchheit, Visiting Professorial Fellow, Centre for Commercial Law Studies, University of London; Honorary Professor, University of Edinburgh Law School
IMF Staff Presentation
“Reviews of the Fund’s Sovereign Arrears Policies and Perimeter”
Anna Gelpern, Anne Fleming Research Professor, Professor of Law, Georgetown Law; Nonresident Senior Fellow, Peterson Institute for International Economics
Ben Heller, Portfolio Manager, HBK Capital Management
Carola Moreno, Director of Finance and International Affairs, Ministry of Finance of Chile
Julianne Ams, Senior Counsel, Legal Department, IMF
Marcos Chamon, Deputy Division Chief, Debt Policy Division, Systemic Issues Division of the Research Department, IMF
Sean Hagan, Visiting Professor of Law, Georgetown Law; Former General Counsel, International Monetary Fund
Thor Jonasson, Deputy Division Chief, Monetary, Capital, and Markets Department, IMF
Tom Best, Economist, Strategy, Strategy, Policy and Review Department, IMF
Panel discussion followed by Q&A
Jeromin Zettelmeyer, Deputy Director, Strategy, Policy and Review Department, IMF
Wolfgang Bergthaler, Assistant General Counsel, Legal Department, IMF
Yan Liu, Deputy General Counsel, Legal Department, IMF
5th Interdisciplinary Sovereign Debt Research and Management Conference
The European University Institute will be hosting the 5th edition of the Interdisciplinary Sovereign Debt Research and Management Conference, on May 25-27, 2022 in Florence, Italy. In addition to DebtCon5, three side events will be held online – further information will be announced in due time, so stay tuned!
In this unique international and interdisciplinary conference, we welcome paper submissions from economists, finance and legal scholars, historians, political scientists, political economists, sociologists and anthropologists working in theoretical and empirical areas related to sovereign debt as well as from practitioners. Contributions from emerging scholars and junior policymakers are highly encouraged.
The objective of DebtCon5 is to discuss state-of-the-art interdisciplinary research on sovereign debt and related policy issues, and to foster interaction among academics, senior policymakers and supervisors, industry representatives, and other practitioners. The conference will include both high-level roundtables, where practice, policy and research will meet, and parallel sessions, where research papers will be presented. Emerging scholars will have the opportunity to present their work in an emerging-scholars side-event.
For more information, please visit the official DebtCon 5 website.