BEGIN:VCALENDAR VERSION:2.0 PRODID:unctad.org BEGIN:VEVENT UID:6a758d7d0a404 DTSTART:20250318T120000Z SEQUENCE:0 TRANSP:OPAQUE DTEND:20250318T133000Z LOCATION:Geneva\, Switzerland SUMMARY:Side event at 14th Debt Conference: A United Nations Framework Con vention on Sovereign Debt - a solution to FFD4? CLASS:PUBLIC DESCRIPTION:Global public debt levels have soared\, reaching a record of $9 2 trillion and are set to exceed $100 trillion in 2025\, with increasing d ebt servicing costs faced by developing countries.Africa in particular is spending up to $164 billion in debt servicing in 2024\, with 25 out of 54 countries spending more on interest payments than on health and food secur ity.The widening debt crisis largely emanates from a flawed international economic system characterised by a rules-based system developed and histor ically dominated by developed countries that hold disproportionate voting power bases and influence in key decision-making processes\, which do not favour Africa’s transformation and development needs. The existing glob al debt architecture\, including the G20 Common Framework\, is creditor-le d and inadequate to solve Africa’s debt crisis.Objective and intended ou tcomeIn the context of the existing power asymmetries within the global fi nancial architecture\, the objective of the session is to propose concrete solutions to the debt crisis and reforms of the global financial architec ture for the upcoming fourth financing for development conference (FfD4)\, including the establishment of a Framework Convention on Sovereign Debt a nd a Global Debt Authority under the auspices of the United Nations.The si de event will be a panel discussion of high-level speakers from the Africa n Union\, Africa Group Member states\, and civil society experts working o n debt justice.Panelists:Patrick Ndzana Olomo – Head of Division “Econ omic Policy and Sustainable Development”\, African Union ETTIM Departmen tKamal Ramburuth – Project Lead\, Institute for Economic Justice (IEJ)\, South AfricaAttiya Waris\, UN Independent Expert on foreign debt and huma n rightsJorge Arturo Luna\, Debt Expert\, LATINDADDMalack Luhanga – Assi stant Director\, Debt Data Management Unit at Ministry of Finance\, Zambia Moderator: Mr. Yungong Theophilus Jong\, Policy and Advocacy Manager\, AF RODAD ParticipationParticipants will include delegates of UN Member State s\, Civil Society Organisations\, Think tanks\, Academia and other relevan t stakeholders.<\;p>\;Global public debt levels have soared\, reaching a record of $92 trillion and are set to exceed $100 trillion in 2025\, wi th increasing debt servicing costs faced by developing countries.<\;/p&g t\;<\;p>\;Africa in particular is spending up to $164 billion in debt servicing in 2024\, with 25 out of 54 countries spending more on interest payments than on health and food security.<\;/p>\;<\;p>\;The widen ing debt crisis largely emanates from a flawed international economic syst em characterised by a rules-based system developed and historically domina ted by developed countries that hold disproportionate voting power bases a nd influence in key decision-making processes\, which do not favour Africa ’s transformation and development needs.&\;nbsp\;<\;/p>\;<\;p&g t\;The existing global debt architecture\, including the G20 Common Framew ork\, is creditor-led and inadequate to solve Africa’s debt crisis.<\; /p>\;<\;h4>\;<\;strong>\;Objective and intended outcome<\;/str ong>\;<\;/h4>\;<\;p>\;In the context of the existing power asymm etries within the global financial architecture\, the objective of the ses sion is to propose concrete solutions to the debt crisis and reforms of th e global financial architecture for the upcoming fourth financing for deve lopment conference (FfD4)\, including the establishment of a Framework Con vention on Sovereign Debt and a Global Debt Authority under the auspices o f the United Nations.<\;/p>\;<\;p>\;The side event will be a panel discussion of high-level speakers from the African Union\, Africa Group M ember states\, and civil society experts working on debt justice.<\;/p&g t\;<\;p>\;Panelists:<\;/p>\;<\;ul>\;<\;li>\;<\;strong> \;Patrick Ndzana Olomo<\;/strong>\; – Head of Division “Economic P olicy and Sustainable Development”\, African Union ETTIM Department<\; /li>\;<\;li>\;<\;strong>\;Kamal Ramburuth<\;/strong>\; – P roject Lead\, Institute for Economic Justice (IEJ)\, South Africa<\;/li& gt\;<\;li>\;<\;strong>\;Attiya Waris<\;/strong>\;\, UN Indepen dent Expert on foreign debt and human rights<\;/li>\;<\;li>\;<\; strong>\;Jorge Arturo Luna<\;/strong>\;\, Debt Expert\, LATINDADD< \;/li>\;<\;li>\;<\;strong>\;Malack Luhanga<\;/strong>\; – Assistant Director\, Debt Data Management Unit at Ministry of Finance\, Za mbia<\;/li>\;<\;/ul>\;<\;p>\;Moderator:&\;nbsp\;<\;/p>\ ;<\;ul>\;<\;li>\;<\;strong>\;Mr. Yungong Theophilus Jong<\;/ strong>\;\, Policy and Advocacy Manager\, AFRODAD<\;br>\;&\;nbsp\ ;<\;/li>\;<\;/ul>\;<\;h4>\;<\;strong>\;Participation<\;/ strong>\;<\;/h4>\;<\;p>\;Participants will include delegates of UN Member States\, Civil Society Organisations\, Think tanks\, Academia an d other relevant stakeholders.<\;/p>\;\n\nView meeting on unctad.org\n https://unctad.org/meeting/side-event-14th-debt-conference-united-nations- framework-convention-sovereign-debt-solution DTSTAMP:20260807T074709Z END:VEVENT END:VCALENDAR