Defusing the Debt Time Bomb: The Role of an Effective Crisis Prevention and Resolution Architecture

More than 60 countries struggle with high debt burdens and payments, but very few of them made use of the debt restructuring mechanisms available, whether the G20 Common Framework or others. Research shows that continued debt payments come at the expense of health, social, climate and other priorities, even cutting or delaying pensions and public sector wages. Yet, policymaker actions may not avert, but simply postpone, eventual debt restructurings more costly to their people, their creditors and the planet.

How could the debt architecture be reformed to encourage and deliver early, prompt and sufficient debt reductions?

On Wednesday, October 11 at 8:30-10:00 AM EDT | 1:30-3:00 PM WEST, join us for a panel discussion at the 2023 International Monetary Fund/World Bank Civil Society Policy Forum on reforming the international financial architecture to address the growing debt crisis.

Cosponsors: AFRODAD, Arab NGO Network for Development, Arab Watch Regional Coalition, Asian Peoples’ Movement on Debt and Development, Caritas Africa, Debt Justice Norway, Debt Relief for a Green and Inclusive Recovery Project, Erlassjahr,  European Network on Debt and Development – Eurodad, Friedrich Ebert Stiftung-NY, Global Policy Forum, Jesuit Justice and Ecology Network Africa – JENA and Jubilee USA Network.


  • Matthew Martin, Director, Development Finance International
  • Shari Spiegel, Director, United Nations Financing for Sustainable Development Office
  • Lidy Nacpil, Coordinator, Asian Peoples’ Movement on Debt and Development
  • Guillaume Chabert, Deputy Director, Strategy, Policy and Review Department, International Monetary Fund
  • Yuefen Li, Co-chair, Debt Relief for a Green and Inclusive Recovery Project
  • Bodo Ellmers, Director, Financing for Sustainable Development Program, Global Policy Forum
  • Salwa Trabelsi, Professor, ESSECT, University of Tunis
  • Eric LeCompte (moderator), Executive Director, Jubilee USA

Date & Time:

Wednesday, October 11

8:30-10:00 AM EDT | 1:30-3:00 PM WEST


Marrakech, IMF/World Bank Annual Meetings venue – Bab Ighli, Room SC03