IMF official says debt roundtable to focus on broad restructuring hurdles

WASHINGTON (Reuters) – The International Monetary Fund’s strategy director on Tuesday said the goal of a new sovereign debt panel of creditors and borrowers due to meet on Friday is to try to reach understandings on common standards, principles and definitions for how to restructure distressed country debts.

Ceyla Pazarbasioglu, director of the IMF’s Strategy, Policy and Review Department, told reporters that the Global Sovereign Debt Roundtable does not intend to discuss country-specific debt restructuring issues, but to address some of the broader impediments that have been delaying such relief.

“So it’s basically to discuss issues that have been impeding reaching a timely debt restructuring process, and the lessons from the cases that we had in the recent past, and to come up with technical solutions to address these shortcomings,” Pazarbasioglu said.

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