COC

Focus Two: Root Causes of Debt

Center of Concern joins filing in precedent-setting sovereign debt trial (March 2014)

Rethinking Bretton Woods | Fri, Mar 21, 2014

Center of Concern joins filing in precedent-setting sovereign debt trial (March 2014)

 

Center of Concern joins Jubilee USA Network and 75 other religious and development groups in filing an Amicus (friend-of-the-court) brief with the US Supreme Court in the famed case between Argentina and NML Capital. Jubilee decided to join as an amicus in this case because the precedent the case may set will impact poor countries in financial distress and allow a small group of hedge funds to target debt relief assets with consequences on vulnerable populations everywhere in the world.

 

Argentina Requesting Relief in “Vulture Funds” case

Rethinking Bretton Woods | Tue, Feb 25, 2014

Argentina Requesting Relief in “Vulture Funds” case

Center of Concern team member Aldo Caliari is quoted in an article on Argentina’s appeal before the U.S. Supreme Court to review a lower court ruling that would compel the country to pay more than $1.3 billion to U.S. “holdout” bondholders that the Argentine president has called “vultures.”

The article, Argentina Requests Supreme Court Relief in “Vulture Fund” Case, appeared on February 24 2014.

“The ruling would make it very hard for debtors going through similar problems in the future to restructure their sovereign debt in a successful, timely and orderly fashion,” Caliari said.

 

Rethinking Bretton Woods | Thu, Feb 20, 2014

Event: Debt Problems of Small Vulnerable States: A Time to Act (February 2014)

On February 24, 2014, RBW Project Director Aldo Caliari spoke at “The Debt Problem of Small  Vulnerable States: A Time to Act,” a panel discussion organized by the United Nations Financing for Development Office. The event took place in the occasion of the first PrepCom in preparation for the Third International Conference on Small Island Developing States, to be held in Samoa in September 2014.

 

Post-2015 infrastructure finance: The new debt threat? (February 2014)

Rethinking Bretton Woods | Tue, Feb 11, 2014

Post-2015 infrastructure finance: The new debt threat? (February 2014)

 

The Monterrey Consensus called for a debt architecture that promotes fair burden-sharing and minimises moral hazard. In a blog contributed to Overseas Development Institute’ s financing progress series, RBW Project Director Aldo Caliari reflects on how far the international community is from fulfilling this consensus. In particular he looks ahead to concerns relating to possibly unsustainable infrastructure debt post-2015 and urges caution regarding the fiscal risks of Public-Private Partnerships.

 

Moving from principles to action on responsible lending and borrowing

Rethinking Bretton Woods | Wed, Sep 25, 2013

Moving from principles to action on responsible lending and borrowing

 

On September 26th, 2013, Center of Concern team member Aldo Caliari spoke at “From Principles to Action,” an event on the Norwegian Debt Audit and the UNCTAD Principles on Responsible Sovereign Lending and Borrowing. The event, held in the occasion of the High Level Special Event on Millennium Development Goals, will take place at the UN Headquarters in New York, and is cosponsored by the Norwegian Ministry of Foreign Affairs, UNCTAD, Jubilee USA, Eurodad and the Norwegian Campaign for Debt Cancellation -SLUG.

Speaking on behalf of Jubilee USA he said: "I want to thank the other cosponsors for their willingness to do a side event on this topic at this particular place and time. Yesterday governments approved the roadmap for negotiations towards a new generation of development goals. As the world seeks to advance goals such as eradicating poverty, addressing the situation of countries that continue to struggle with the burden of debt repayments will need to be central part of that new development agenda." 

 

Sovereign debt restructuring: Implications of funds litigation against Argentina

Rethinking Bretton Woods | Fri, Jul 19, 2013

Sovereign debt restructuring: Implications of funds litigation against Argentina

On Monday July 22, RBW Project Director Aldo Caliari spoke at a Congressional Briefing “Sovereign Debt Restructurings: The Case of Argentina and Latest Developments.”

What are the most recent developments in the Argentine debt case? Why are experts and institutions like the IMF claiming that ongoing litigation against Argentina could have pervasive implications for future sovereign debt restructurings? What are the systemic implications of this case?

Other panelists at the briefing were Jeremiah S. Pam, Visiting Scholar at Columbia University Law School and Sergio Chodos, Alternate Executive Director for Argentina at the International Monetary Fund. The event was moderated by the Ambassador of the Republic of Argentina to the United States, H.E. Cecilia Nahon.

Towards a lasting solution to sovereign debt problems (November 2012)

Rethinking Bretton Woods | Mon, Nov 12, 2012

Towards a lasting solution to sovereign debt problems (November 2012)

Following the global financial crisis, low-, middle- and high-income countries are seeing increased levels of sovereign debt. Today no international mechanism exists to deal comprehensively and effectively with sovereign debt problems. A lasting solution requires an independent debt workout mechanism.

CIDSE joins a number of large debt advocacy networks to call for a lasting solution to sovereign debt issues.

 

Sovereign Debt Crisis and the Future of the European Monetary Union (February 2012)

Rethinking Bretton Woods | Thu, Feb 23, 2012

Sovereign Debt Crisis and the Future of the European Monetary Union (February 2012)

 

On Friday February 24, 2012, RBW Project Director Aldo Caliari spoke at a symposium on the European Sovereign Debt Crisis and the future of the European Monetary Union held by the University of Iowa , the Journal on Transnational Law and Contemporary Problems and the University of Iowa Center for Finance and Development.

 

He delivered a paper titled Debt Restructuring and Cross-Border Bank Resolution: Their Place and Features in a Viable European Financial Architecture

Click here to watch webcast of Aldo Caliari's presentation.

Click here for more information on the symposium, including webcasts of other presentations.

 

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