Status: Draft -- Not PublishedWill be live at 10/14/2012 15:40
Principles For Stable Capital Flows And Fair Debt Restructuring - 2012 Addendum
This Addendum presents the recommendations of the Joint Public-Private Committee on Strengthening the Framework for Sovereign Debt Crisis Prevention and Resolution, endorsed by the Group of Trustees of the Principles on October 14, 2012, at its 2012 Annual Meeting in Tokyo. The Joint Committee was set up under the auspices of the CoChairs of the Group of Trustees in March 2012 to assess the recent experience with sovereign debt crisis prevention, management, and resolution in the Euro Area and elsewhere, draw appropriate lessons, and make recommendations on the strengthening of the existing framework for sovereign debt crisis prevention and resolution as embodied in the guidelines of the Principles for Stable Capital Flows and Fair Debt Restructuring. The recommendations included in the Addendum complement the Principles and provide amplification of the practical guidance for the implementation of the guidelines underlying the Principles to make them more practically relevant to the circumstances faced by mature market countries, including those that are members of currency unions.