economic security

The global debt crisis and the role of private creditors

Sharing responsibilities as well as benefits? The global debt crisis and the role of private creditors

The results of the G20 initiatives to relieve the debt of the Global South, which has been hard hit economically by the pandemic, are sobering. Many eligible countries are reluctant to enter into negotiations. They fear that debt relief will cut off their long-term access to private capital markets and cause them to lose the confidence of private investors. These concerns have been reinforced by creditors, especially from the private sector. And the G20? Despite its commitment to private sector participation in the Common Framework for Debt Treatments, it has so far not found the political will to make such participation mandatory. However, this would be a key step to shield debtor countries from uncooperative creditors and achieve substantial debt relief.

In the run-up to the joint meeting of G20 health and finance ministers this October we have invited international experts from academia, government, and financial institutions to discuss the following questions among others:

  • Is there empirical evidence that debt relief excludes countries from much-needed development finance?
  • On what grounds could the participation from the private sector in official debt relief initiatives, comparable to other creditors, be expected?
  • In what ways can the G20 compel private sector participation and equal burden-sharing?

Further event details will be forthcoming, but please stay apprised of updates here: https://ny.fes.de/

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Sustainable Development-Vienna, please visit congocsd.wordpress.com. For more information on the NGO Committee on Sustainable Development-New York, please visit ngocsd-ny.org.

Celebrate International Women’s Day with the NGO Committee on Ageing-NY

The NGO Committee on Ageing calls your attention to our next Program Meeting on Thursday, March 4th, from 11:00am to 12:30pm EST.

Register here!

Program Agenda

Welcome and Announcements: Cynthia Stuen, Chair, NGO CoA

Moderator: Sandra Timmermann, Co-Chair, NGO CoA Program Subcommittee

Updates on OEWGA and other business: Frances Zainoeddin, Vice-Chair, NGO CoA

The COVID19 “She-Session”: The Impact of the Pandemic on the Economic Security of Older Women

  • Melissa Grober-Morrow, Thought Leadership Director, Financial Resilience, AARP
  • Ben F. Bolton, Director, Global Partnership Engagement, Office of International Affairs, AARP

Q & A and Discussion: Erica Dhar, AARP

Plans for the Commission on the Status of Women and CoA Member Input: Susan Somers, INPEA (Time will be allotted for member organizations to discuss their plans for CSW.)

The NGO CoA thanks the International Network for the Prevention of Elder Abuse (INPEA) for hosting the meeting on Zoom.

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CoNGO Notes: For more information on the NGO Committee on Ageing-NY, please visit ngocoa-ny.org. For more information on the NGO Committee on Ageing-Vienna, please visit ngoageingvie.org. For more information on the NGO Committee on Ageing-Geneva, please visit ageingcommitteegeneva.org. For more information on the NGO Committee on Intergenerational Solidarity, please email the vice chair at susanneseperson@gmail.com.