The effort to find efficient and equitable mechanisms to alleviate debt distress among developing countries has frustrated policymakers for decades. Although default-risk among low-income economies rose particularly sharply after the pandemic, not least because of a big rise in US interest rates and a stronger dollar, resolving those crises has proved especially difficult because of geopolitical tensions with China. Notwithstanding China’s role as a creditor, the debate about how best to avoid debt crises, and to make them less painful for the countries involved, remains inconclusive.
Following the publication of Greg Makoff’s book about Argentina’s history of default, we are pleased to invite you to a discussion about these issues, and hope to answer questions including:
What lessons can we take from Argentina’s experience of debt restructuring following the crisis of 2001?
How can we promote global cooperation on sovereign debt reform in this era of multipolarity and geopolitical tension?
What reforms are needed – to debt contracts, to international governance mechanisms – to ease emerging markets debt distress?
