Debt Rescheduling

The coronavirus pandemic hits developing countries at a time when they have already been struggling with unsustainable debt burdens for many years, as well as with rising health needs. UNCTAD calls for $1 trillion in debt relief.

The consequences of a combined health pandemic and a global recession will be catastrophic for many developing countries and halt their progress towards the Sustainable Development Goals.

United Nations responds to sovereign debt crises by adopting principles, with UNCTAD support, that could underlie a new legal framework and regulatory mechanisms.

United Nations member States and experts from civil society, academia and the legal profession made recommendations on a framework for sovereign debt restructuring to the General Assembly in New York.