Rethinking Bretton Woods | Tue, Nov 22, 2005
In these papers commissioned by UNCTAD for its Expert Meeting on Debt Sustainability and Development Strategies, Aldo Caliari analyses the debt –trade connection.
The first paper focuses on debt management initiatives and the need for a change in paradigm. Debt and trade policies are perceived to be a crucial part of this complex of policies. However, the close interdependence that exists between the asymmetries in the trade system and the chronic nature of the overindebtedness problem faced by developing countries oftentimes goes missing in policy initiatives, the author argues.
The second paper focuses on the threats to debt prevention and resolution stemming from bilateral investment treaties (BITs) provisions on sovereign debt restructuring.