Call for decision-making to shift to the UN: “the most democratic global governance space we have.”

Last week, G20 Finance Ministers failed to act on calls to enhance the Common Framework. In this article we look at the trends and risks regarding sovereign debt that the G20 seem to be ignoring and we believe will need close attention in the coming months. 

This article was originally published on 16 February and updated on 24 February. 

On Thursday, the IMF published a blog on the problems facing the implementation of the G20 Common Framework (CF). This signals a victory for civil society campaigners – but is ultimately too little too late.

Lauded by its proponents as a “ground-breaking” and “innovative approach,” the proposal raises concerns upon closer review and is likely to turn into a costly missed opportunity for everyone involved.

62 civil society organisations and global networks across the world have published an open letter expressing their concerns about the design, consultation process and establishment of the ‘inadequate’ OECD Debt Transparency Initiative (DTI).

World leaders failed to seize an opportunity for vital reform of the international debt architecture when they met yesterday (29 March) at the UN.

Ecuador está atravesando una crisis sanitaria y humanitaria como resultado del Covid-19. En este blog se analiza las implicaciones de la pandemia, la crisis de deuda en Ecuador y la iniciativa DSSI.

Ecuador is experiencing a health and humanitarian crisis as a result of Covid-19. This blog explores the implications of the pandemic, Ecuador's debt crisis and the DSSI initiative. 

Today the G20 published its “Common Framework for Debt Treatments beyond the DSSI.” The proposed framework is extremely disappointing, and yet again another mechanism that has been designed by and for creditors.

Covid-19 has left Kenya in a precarious position. A large debt burden and the impact of the pandemic are eroding all the gains made in the fight against poverty over the last few decades.