Global Sovereign Debt Roundtable
Last Updated: January 29, 20251. What is the GSDR?
The objective of the Global Sovereign Debt Roundtable is to build greater common understanding among key stakeholders on debt and debt restructuring challenges, shortcomings in debt restructuring processes, both within and outside the Common Framework, and work together on ways to address them.
2. What issues does it cover?
The focus of the Global Sovereign Debt Roundtable is on process and standards, not to discuss country cases. The GSDR does not replace existing restructuring mechanisms such as the Common Framework. Instead, it supports those mechanisms by fostering greater common understanding on concepts and principles, which in turn facilitates individual restructurings. For example, the Roundtable has facilitated common understanding on information sharing and the role of MDBs in restructuring processes. It has also helped forge common understanding on topics of such as cutoff dates, comparability of treatment, defining the debt restructuring perimeter, debt service suspension and treatment of arrears, issues in domestic debt restructurings, and the use of state contingent debt instruments, among other topics.
4. When does the GSDR meet?
The GSDR started its work in February 2023. Since then, it has regularly met at Principals level in the context of the IMF-World Bank Spring and Annual meetings, with several technical or preparatory meetings in between, including open workshops. It will continue to meet in a similar fashion going forward.