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by Diana Hulova, Myanmar (Burma), one of the world’s poorest countries, has been the subject of a number of debt restructuring and relief packages during the past few months. In January, debt owed to the World Bank and the Asian Development Bank was ...
by Bodo Ellmers, The comprehensive review of the International Monetary Fund’s (IMF) quota formula failed to find consensus on a clear reform proposal. Controversies persist between the old rich and emerging economies on which factors should determine ...
by Diana Hulova, The Paris Club and the government of Burma met in Paris last week to agree on a treatment of the country’s outstanding debts to its western creditors. A deal was agreed, which offers a cancellation of half of Burma’s arrears owed ...

Reforming sovereign debt management: Big bang or incremental steps?

Diana Hulova

17 Jan 2013 14:24:40

by Diana Hulova, As the debt crisis in Europe and the Global South moves into a new year, Eurodad and German member organisation Erlassjahr organised a seminar on global debt management in Berlin. I attended the seminar which brought together civil society, academics and some government officials to debate the current global governance of sovereign debt crises and the idea of establishing an international debt workout mechanism. A new debt management structure urged The workshop was timely coming amidst increasing calls for alternative solutions to sovereign debt problems, which continue to be a major challenge for global financial stability. The debt crisis hitting hard in Europe and the Global South and the rising vulnerabilities of indebted countries are a proof of the shortfalls of the ...
Export credit debts constitute the largest component of the external bilateral debt of developing countries. Last year, Eurodad research revealed that almost 80% of poor countries’ debts to European governments come from export credit guarantees, which ...

Scale of UK arms loans to dictators revealed for first time

Ed Davey may have misled parliament over Egypt’s dictator debts 5 Nov 2012 – The UK coalition government’s official export credit insurer UK Export Finance has revealed information about the origin of ‘Third World Debts’ owed to the UK for the first time.1 The new figures show that three-quarters of Indonesia’s £400 million debt comes from loans for military equipment. This includes exports of aircraft and tanks later used against the Indonesian people – who currently pay £50 million ...