BEGIN:VCALENDAR VERSION:2.0 PRODID:unctad.org BEGIN:VEVENT UID:6af1464a04046 DTSTART:20220406T113000Z SEQUENCE:0 TRANSP:OPAQUE DTEND:20220406T130000Z LOCATION:\, SUMMARY:Revitalizing UNCTAD Principles on the Promotion of Sovereign Lendin g and Borrowing CLASS:PUBLIC DESCRIPTION:The COVID-19 pandemic has presented unique fiscal challenges fo r many developing countries. In fighting the pandemic\, developing countri es around the world have accumulated historic levels of domestic and exter nal debt at an unprecedented pace\, raising their level of external indebt edness by US$ 500 billion in 2020 alone\, to a cumulative level of US$ 11 trillion by the end of the year (UNCTAD\, TDR\, 2021). Moreover\, the worl d’s poorest countries have experienced some of the worst of the economic and social fallout associated with the pandemic and are facing a wall of debt repayments up to 2030\, drastically undermining their achievement of the Sustainable Development Goals (SDGs). Against this challenging backdro p\, it is important to strengthen systems and processes that enhance respo nsible sovereign lending and borrowing to prevent further accumulation of unsustainable debt.\n\nThis webinar takes as its point of departure the ex pertise and best practice developed in the soft-law framework for both len ders and sovereign borrowers\, within the UNCTAD Principles of Promoting R esponsible Sovereign Lending and Borrowing (2012) (the Principles)\, the U NCTAD Guidelines for Responsible Sovereign Lending and Borrowing (2013) an d the UNCTAD Guide and Roadmap for Sovereign Debt Workouts (2015)\, to sup port sustainable and responsible financing practices and regulatory framew orks.\n\nThe aim of the Principles is to durably change the behaviour of s overeign lenders and borrowers\, with a resulting shift in sovereign borro wing and lending practice. However\, the accumulation of unsustainable sov ereign debt indicates gaps in the implementation of the framework. Operati onalising these Principles more fully can play an essential role in ensuri ng responsible sovereign lending and borrowing.\n\n \n\nPurpose and objec tives of the webinar\n\nThe webinar forms part of the activities associate d with Response and Recovery: Mobilising Financial Resources for developme nt in the time of COVID-19 - a UN Development Account project led by UNCTA D that aims to enable member countries to diagnose their fragilities in th e global context and identify and design appropriate policy responses lead ing toward recovery and return to the development path aligned with the 20 30 Agenda for Sustainable Development. The webinar provides an opportunity to hear about the Principles and ways in which they have been implemented within public debt and policy environments. It brings together those with global knowledge and experience of the Principles\, together with policym akers and financial managers in public debt management.\n\nThe key objecti ves and expected outcomes of the event are the following:\n\n\nTo create a n open dialogue in which member States can gain a better understanding of the strengths of the 15 Principles of Responsible Lending and Borrowing\nT o discuss the implementation of the Principles within different developing countries.\nTo explore ways in which the Principles can be revitalised in the national context.\n\n\n \n\nProgramme \n\nModerator: Ms. Penelope Ha wkins\, Senior Economic Affairs Officer\, UNCTAD\n\n13:30–13:40 Welcome address\, Dr. Louis Kasekende\, Executive Director\, MEFMI (5 mins)\n\nOpe ning remarks Mr Richard Kozul-Wright\, Director\, Division on Globalizatio n and Development Strategies\, UNCTAD (5 mins)\n\n13:40–14:30 Panel disc ussion\n\nMs Yuefen Li\, former UN Independent Expert on Foreign Debt and Human Rights (15 mins)\n\nMs. Thea Sofie Rusten Grastveit\, Policy Advisor \, Debt Justice Norway (15 mins)\n\nMr. Jacob Mkandawire\, Bank of Zambia\ , and former Director of the Investment and Debt Management Department at the Ministry of Finance in Zambia (15 mins)\n\n14:30–14:55 Open discussi on (25 mins)\n\n14:55–15:00 Concluding remarks\, MEFMI (5 mins)\n\n \n& lt\;p>\;The COVID-19 pandemic has presented unique fiscal challenges for many developing countries. In fighting the pandemic\, developing countrie s around the world have accumulated historic levels of domestic and extern al debt at an unprecedented pace\, raising their level of external indebte dness by US$ 500 billion in 2020 alone\, to a cumulative level of US$ 11 t rillion by the end of the year (UNCTAD\, TDR\, 2021). Moreover\, the world ’s poorest countries have experienced some of the worst of the economic and social fallout associated with the pandemic and are facing a wall of d ebt repayments up to 2030\, drastically undermining their achievement of t he Sustainable Development Goals (SDGs). Against this challenging backdrop \, it is important to strengthen systems and processes that enhance respon sible sovereign lending and borrowing to prevent further accumulation of u nsustainable debt.<\;/p>\;\n\n<\;p>\;This webinar takes as its poi nt of departure the expertise and best practice developed in the soft-law framework for both lenders and sovereign borrowers\, within the UNCTAD Pri nciples of Promoting Responsible Sovereign Lending and Borrowing (2012) (t he Principles)\, the UNCTAD Guidelines for Responsible Sovereign Lending a nd Borrowing (2013) and the UNCTAD Guide and Roadmap for Sovereign Debt Wo rkouts (2015)\, to support sustainable and responsible financing practices and regulatory frameworks.<\;/p>\;\n\n<\;p>\;The aim of the Princ iples is to durably change the behaviour of sovereign lenders and borrower s\, with a resulting shift in sovereign borrowing and lending practice. Ho wever\, the accumulation of unsustainable sovereign debt indicates gaps in the implementation of the framework. Operationalising these Principles mo re fully can play an essential role in ensuring responsible sovereign lend ing and borrowing.<\;/p>\;\n\n<\;p>\;&\;nbsp\;<\;/p>\;\n\n& lt\;p>\;<\;strong>\;Purpose and objectives of the webinar<\;/stron g>\;<\;/p>\;\n\n<\;p>\;The webinar forms part of the activities associated with <\;em>\;Response and Recovery: Mobilising Financial Re sources for development in the time of COVID-19<\;/em>\; - a UN Develo pment Account project led by UNCTAD that aims to enable member countries t o diagnose their fragilities in the global context and identify and design appropriate policy responses leading toward recovery and return to the de velopment path aligned with the 2030 Agenda for Sustainable Development. T he webinar provides an opportunity to hear about the Principles and ways i n which they have been implemented within public debt and policy environme nts. It brings together those with global knowledge and experience of the Principles\, together with policymakers and financial managers in public d ebt management.<\;/p>\;\n\n<\;p>\;The key objectives and expected outcomes of the event are the following:<\;/p>\;\n\n<\;ul>\;\n<\ ;li>\;To create an open dialogue in which member States can gain a bette r understanding of the strengths of the 15 Principles of Responsible Lendi ng and Borrowing<\;/li>\;\n<\;li>\;To discuss the implementation o f the Principles within different developing countries.<\;/li>\;\n<\ ;li>\;To explore ways in which the Principles can be revitalised in the national context.<\;/li>\;\n<\;/ul>\;\n\n<\;p>\;&\;nbsp\;&l t\;/p>\;\n\n<\;p>\;<\;strong>\;Programme <\;/strong>\;<\;/ p>\;\n\n<\;p>\;<\;strong>\;Moderator:<\;/strong>\; Ms. Penel ope Hawkins\, Senior Economic Affairs Officer\, UNCTAD<\;/p>\;\n\n<\ ;p>\;13:30–13:40 <\;strong>\;Welcome address<\;/strong>\;\, Dr . Louis Kasekende\, Executive Director\, MEFMI (5 mins)<\;/p>\;\n\n< \;p>\;<\;strong>\;Opening remarks <\;/strong>\;Mr Richard Kozul- Wright\, Director\, Division on Globalization and Development Strategies\, UNCTAD (5 mins)<\;/p>\;\n\n<\;p>\;13:40–14:30 <\;strong>\;P anel discussion<\;/strong>\;<\;/p>\;\n\n<\;p>\;Ms Yuefen Li\, former UN Independent Expert on Foreign Debt and Human Rights (15 mins)< \;/p>\;\n\n<\;p>\;Ms. Thea Sofie Rusten Grastveit\, Policy Advisor\, Debt Justice Norway (15 mins)<\;/p>\;\n\n<\;p>\;Mr. Jacob Mkandaw ire\, Bank of Zambia\, and former Director of the Investment and Debt Mana gement Department at the Ministry of Finance in Zambia (15 mins)<\;/p> \;\n\n<\;p>\;14:30–14:55 <\;strong>\;Open discussion<\;/strong >\; (25 mins)<\;/p>\;\n\n<\;p>\;14:55–15:00 <\;strong>\;Co ncluding remarks<\;/strong>\;\, MEFMI (5 mins)<\;/p>\;\n\n<\;p&g t\;&\;nbsp\;<\;/p>\;\n\n\nView meeting on unctad.org\nhttps://uncta d.org/meeting/revitalizing-unctad-principles-promotion-sovereign-lending-a nd-borrowing DTSTAMP:20261109T040426Z END:VEVENT END:VCALENDAR