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Location: IMF Connect
Debt transparency is fundamental to promote sustainable borrowing, enable sound fiscal management, inform debt restructuring processes and support accountability over the use of public resources. While there have been advances across countries, critical legal gaps remain which may lead to underreporting of debt and contingent liabilities, uncoordinated institutional arrangements, misuse of confidentiality clauses, and weak accountability. This presentation will illustrate how, in implementing international standards and best practices, domestic legal frameworks for public debt and financial management can support debt transparency.
Based on work by Karla Vasquez, Kikachukwu Alex-Okoh, Alissa Ardito, Alessandro Gullo, Olya Kroytor, Mia Pineda, Ron Snipeliski
Karla Vasquez Legal Department, IMF |
Kikachukwu Alex-Okoh Legal Department, IMF |
COVID-19 has increased debt vulnerabilities and potential debt restructurings, including domestic debt restructurings (DDRs). But how are DDRs different? What are the additional risks and considerations involved? And what can policy makers do to minimize these costs on their financial system and economy?
Tamon Asonuma Strategy, Policy, and Review Department, IMF |
Trevor Lessard Monetary and Capital Markets Department, IMF |
Sebastian Grund
Legal Department, IMF