Reforming sovereign debt  

Eurodad / Latindadd / Jubilee USA Network / Afrodad / Apmdd

This collaboration unites the Debt and Development Networks in Asia, Africa, Latin America, Europe and the US, each of which has a strong presence and roots in their respective regions. The initiative will energize a cross-sectoral global debt movement to reform the global sovereign debt architecture. In particular, the debt justice movement partners seek to broaden eligibility criteria for debt cancellation; foster fair and transparent debt-workout mechanisms that include private creditors; promote mechanisms to prevent over-indebtedness and make economies more resilient; and advocate for the UN to take a leadership role in global debt governance.   

Why it matters

Sovereign debt governance has a multilateral character that transcends the borders of nations. Collaboration is critical to promote a debt movement with a truly global reach. The organizations that are part of this consortium have developed highly specialized expertise, strong regional presences and alliances with broad stakeholders, at all levels. Close coordination will allow these organizations to advance the strategic proposals needed to reform the international debt architecture.