The Financing for Development Office of the United Nations Department of Economic and Social Affairs (FfDO/UNDESA), The Centre for International Governance Innovation (CIGI) and the Commonwealth Secretariat are jointly convening a closed Expert Group Meeting on Sovereign Debt Restructuring. The purpose of the meeting will be to explore concrete, practical steps to improve the framework for the timely and orderly restructuring of sovereign debt.
The Expert Group meeting will hone in on several issues flagged at the meeting held in New York (18 May 2012), including the options for establishing structures for creditor committees, contractually defined stays and standstills vis-à-vis statutory ‘grace periods’, as well as potential debtor-in-possession financing. Options for voluntary and statutory approaches will be further discussed. To facilitate the discussion, the closed meeting (by invitation only) will be held subject to the Chatham House Rule by which comments can be reported but not attributed.
A summary report of this meeting, highlighting possible policy measures, will serve as a background document for the upcoming sessions of the UN General Assembly and Economic and Social Council and will be posted online by the organizers.