The United Nations' Ad Hoc Committee on sovereign debt restructuring
processes has adopted a series of principles for the creation of an
international framework governing debt restructuring, which will now be
sent to the General Assembly.
After almost six months' work, the Committee approved a document containing nine principles which seek to limit future manoeuvres from vulture funds, while encouraging countries' growth and inclusive development.
The points agreed upon by the body are:
- The sovreign right of states to restructure their debts.
- Sovereign immunity.
- Respect for majority decision in restructuring processes.
- Equal treatment.
- Good faith.
- Transparency.
- Impartiality.
- Legitimacy.
- Sustainability.
The document will now be subject to a vote by UN member countries in a meeting which is expected to take place at the start of September.
[buenosairesherald.com]
28/7/15
After almost six months' work, the Committee approved a document containing nine principles which seek to limit future manoeuvres from vulture funds, while encouraging countries' growth and inclusive development.
The points agreed upon by the body are:
- The sovreign right of states to restructure their debts.
- Sovereign immunity.
- Respect for majority decision in restructuring processes.
- Equal treatment.
- Good faith.
- Transparency.
- Impartiality.
- Legitimacy.
- Sustainability.
The document will now be subject to a vote by UN member countries in a meeting which is expected to take place at the start of September.
[buenosairesherald.com]
28/7/15
No comments:
Post a Comment
Only News