What does civil society want in a UN Framework Convention on Sovereign Debt?
Answer
The civil society proposal for a debt convention argues that a new binding legal framework should address at least the following reforms:
- Multilateral Sovereign Debt Resolution Mechanism
- Binding responsible lending and borrowing principles
- Automatic mechanism for debt payments suspension in the wake of climatic and other external shocks
- Creation of a global debt transparency registry
- New independent debt sustainability frameworks
- Promotion of domestic legislative reforms for debt management, responsible borrowing and lending, and contribution to effective debt resolution.
- Regulation and supervision of financial institutions, including the asset management industry and credit rating agencies (CRAs).
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coline serra published this page in Why do we need a Framework Convention on Sovereign Debt? 2024-11-26 14:46:16 +0100