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Global sovereign debt roundtable to hold third meeting on June 9 -sources By Reuters

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By Libby George and Jorgelina do Rosario

LONDON (Reuters) – The global sovereign debt roundtable will meet on Friday to focus on technical talks aimed at discussing issues such as arrears and comparability of treatment for countries in default, two sources with direct knowledge of the matter told Reuters.

This would be the third encounter for the group that includes representatives of the International Monetary Fund (IMF), the World Bank and current Group of 20 (G20) major economies leader India after one in Bengaluru in February followed by an April meeting in Washington, during the IMF-World Bank spring meetings.

The initiative was formally launched late last year amid continued delays in securing debt treatment for countries in default such as Zambia, Ghana and Sri Lanka, that are in talks with a wide variety of stakeholders like the Paris Club, India and China – the world’s largest bilateral creditor.

As part of the technical talks, the latest meeting will focus on cut-off dates, one of the sources said, as consensus is needed on the starting date from which new loans are excluded from a restructuring.

The sources, who did not specify who would participate in the Friday meeting, declined to be named because the talks are private.

The IMF and World Bank did not respond to requests for comment.

Bilateral creditors representatives participated in previous meetings, as well as government officials from countries that have requested debt treatments under the G20 Common Framework. Some private sector creditors have also been part of the talks in both Bengaluru and Washington.

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