Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Global sovereign debt roundtable to hold third meeting on June 9 -sources

Published 06/06/2023, 06:40 PM
Updated 06/06/2023, 06:46 PM
© Reuters

By Libby George and Jorgelina do Rosario

LONDON (Reuters) - The global sovereign debt roundtable will meet on Friday to focus on technical talks aimed at discussing issues such as arrears and comparability of treatment for countries in default, two sources with direct knowledge of the matter told Reuters.

This would be the third encounter for the group that includes representatives of the International Monetary Fund (IMF), the World Bank and current Group of 20 (G20) major economies leader India after one in Bengaluru in February followed by an April meeting in Washington, during the IMF-World Bank spring meetings.

The initiative was formally launched late last year amid continued delays in securing debt treatment for countries in default such as Zambia, Ghana and Sri Lanka, that are in talks with a wide variety of stakeholders like the Paris Club, India and China - the world's largest bilateral creditor.

As part of the technical talks, the latest meeting will focus on cut-off dates, one of the sources said, as consensus is needed on the starting date from which new loans are excluded from a restructuring.

The sources, who did not specify who would participate in the Friday meeting, declined to be named because the talks are private.

The IMF and World Bank did not respond to requests for comment.

Bilateral creditors representatives participated in previous meetings, as well as government officials from countries that have requested debt treatments under the G20 Common Framework. Some private sector creditors have also been part of the talks in both Bengaluru and Washington.

 

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.