Discussion Group V: Private Sector Creditors Engagement
Background
While official debt remains the most significant component of the external debt of the developing countries that are eligible for the G20 Debt Service Suspension Initiative (DSSI), the share of commercial credit increased four-fold from 2010 through 2019, from 5 to 20 per cent. For all developing countries, including the middle-income countries, the share owed to commercial creditors increased from 41 per cent to 69 per cent over the same period. While commercial creditors have been invited by the G20 to participate on a voluntary basis in the DSSI, there is no established mechanism to ensure full private sector participation, and diverse commercial incentives and obligations can make voluntary participation difficult. This Discussion Group will propose concrete options for a constructive engagement of commercial creditors in initiatives to resolve sovereign debt issues.
Co-leads and country members
Member State Co-Leads: Antigua and Barbuda and Senegal
Member State Participants: Brazil, China, Haiti, Kazakhstan, Malawi, Morocco, Saint Lucia
(Please note that the list of member State participants is open and will be updated frequently.)
UN Entity Focal Point: DESA
Meeting summaries
Upcoming meetings
Third Meeting: 26th August, EDT
Deadline for submission of final menu of policy outcomes: 28th August, EDT
Meeting with Ministers of Finance: 8th September, EDT
Heads of State and Government Meeting on the sidelines of the 75th Session of the United Nations General Assembly: 29th September, EDT