<< this article >>

We reiterate that debtors and creditors must work together to prevent and resolve unsustainable debt situations. Maintaining sustainable debt levels is the responsibility of the borrowing countries; however we acknowledge that lenders also have a responsibility to lend in a way that does not undermine a country’s debt sustainability. In this regard, we take note of the UNCTAD principles on responsible sovereign lending and borrowing. We recognize the applicable requirements of the IMF debt limits policy and/or the World Bank’s non-concessional borrowing policy. The OECD Development Assistance Committee has introduced new safeguards in its statistical system in order to enhance the debt sustainability of recipient countries. We recall the need to strengthen information-sharing and transparency to make sure that debt sustainability assessments are based on comprehensive, objective and reliable data. We will work towards a global consensus on guidelines for debtor and creditor responsibilities in borrowing by and lending to sovereigns, building on existing initiatives.


Comments

Add a New Comment

Media or #OpenData

With a hashtag per article, anyone can tag content relevant to the status and implementation of the article, and share it via social media as explained at #tags in support of easy information retrieval (video on YouTube).

If you publish a website or blog, you can also embed the Twitter timeline of a hashtag as explained at How to embed a #tag timeline in your website or blog? (Video on YouTube). There is a Twitter timeline embedded at #udhr19 - Freedom of opinion & expression; to seek & receive information.