Sovereign Debtors in Distress: Are Our Institutions Up to the Challenge?
For event program and details, click here to visit the conference landing page.
Unsustainable sovereign debt is shaping up as one of the greatest threats to global stability in the 21st century. While most of the attention has focused on Greece, a weak global economy, vulnerabilities in banking systems, aging populations and already high debt in a number of countries mean that risks of other serious sovereign debt problems are substantial. Yet, even after years of debate, many proposals for reform, and some actions, enormous uncertainty and fear are still the norm when a sovereign reaches the point where debt restructuring is widely seen as inevitable. The issues at stake — how to avoid moral hazard for debtors and creditors, respecting democratic processes, protecting bond-holder rights and supporting global stability — present difficult choices, but ones that should not be left until crises emerge.
The conference will bring together experts, practitioners and eminent persons from around the world for an opportunity to take a fresh look at the global legal and institutional frameworks and discuss whether they are adequate for the immediate and longer term challenges.
The conference is a joint effort of the CIGI-INET partnership.