Some resources on debt, common framework and related issues
Dear all,
I hope this email finds you well.
See below a some interesting reads on debt / Common Framework related issues:
Paris Club Sees Private Creditor Relief Varying in G-20 Plan: the article/interview with French Finance Minister / chair of the Paris Club, points out how private creditors involvement in Common Framework cannot be enforced and how it could just be in form of re-profiling, as CSOs alerted when it was first announced. Read more at: https://www.bloombergquint.com/global-economics/paris-club-sees-private-creditor-relief-varying-in-g-20-plan
African ministers meet with IMF, ECA on immediate economic response to COVID-19 (thanks Tiri afrodad for sharing this): One of the most relevant statements might be Ghana's Minister of Finance pointing out that “We all know that the COVID-19 pandemic will persist for the next 2-3 years. Why are we extending the DSSI for 6 months and not 24 months?”.
More African Nations Seen Tapping G-20 Debt Plan on Revenue Drop Vera Songwe, UNECA executive secretary, also thinks that clarity in Common Framework and how private creditors will be involved might come after a couple of countries go through the process. Read more at: https://www.bloombergquint.com/onweb/more-african-nations-seen-tapping-g-20-debt-plan-on-revenue-drop
Private lenders main recipients of debt payments from crisis countries: see JDC analysis of how private creditors hold a majority of external debt in those countries that requested (or expressed willingness to request) debt restructuring under common framework (Chad, Zambia and Ethiopia) https://jubileedebt.org.uk/blog/private-lenders-main-recipients-of-debt-payments-from-crisis-countries
I hope this is useful. Best regards
Iolanda
