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Remarks by World Bank Group President David Malpass at the Breaking the Impasse on Global Debt Restructurings Conference

· David Malpass, President of the World Bank Group (International)

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· David Malpass Wiki · World Bank Group WikiRemarks by World Bank Group President David Malpass at the Breaking the Impasse on Global Debt Restructurings Conference

ContextRemarks by World Bank Group President David Malpass at the Breaking the Impasse on Global Debt Restructurings Conference.

Why it mattersMalpass proposes aggregate collective action clauses to speed up debt restructurings.

Problems raised
  1. Debt restructurings for poor countries are stuck.
  2. Debt data are not transparent enough.
  3. Creditors and debtors are unequally treated.
Solutions proposed
  1. Improve debt transparency and sustainability.
  2. Include aggregate collective action clauses in all new debt.
  3. Share burdens fairly among creditors.
Read full speech on worldbank.org ↗

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