The Resolution of Debt Crises: The Policy and Research Agenda, New York City 2011

“Do We Need a Sovereign Insolvency Mechanism?: A Discussion on Policy and Research Agenda”, was a one day seminar organized by UNCTAD and IPD, held February 11, 2011 at Columbia University in New York City.

During the past year, the question of how cases of sovereign insolvency should be handled has garnered increasing attention in academic and research forums, international policy arenas and financial markets. In both the most recent UN General Assembly resolution on external debt sustainability and development, and in the Outcome document of the 2009 UN Conference on the Global Financial and Economic Crisis and Its Impact on Development, member states expressed their interest in exploring enhanced approaches to restructuring sovereign debt as well as the need for and feasibility of a more structured framework for international cooperation in this area. The seminar presented an occasion to bring together prominent experts in the areas of both economics and law to discuss various aspects of research and policy agenda related to an insolvency mechanism.