LONDON (Reuters) – The Bretton Woods Committee has formed a working group of senior bankers, academics and lawyers to propose ways to resolve a rise in sovereign debt distress in emerging markets as a result of the COVID-19 pandemic.
The influential U.S.-based non-profit organisation said it will examine how to promote greater transparency around sovereign debt and achieve equitable burden sharing among all creditors, namely official, bilateral and private sector.
Poor nations around the world are battling a large build-up in debt resulting from lower economic growth and higher budget deficits as the coronavirus crisis tightened its grip.
The group formed by the Bretton Woods Committee will also consider how to engage…
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