Public debt in developing nations has surged to the highest levels in 50 years. As the COVID-19 pandemic devastates the global economy, the hardest-hit poorer countries will also encounter a debt crisis. Debt service suspension is a powerful, fast-acting measure that can bring real benefits to poor countries lacking the financial resources to respond to the effects of the coronavirus. The Virtual Parliamentary Meeting on Debt for a Resilient Recovery will be an occasion for legislators from around the world to learn more about the global impact of COVID-19 and the World Bank Group’s response, including debt suspension. Through dialogue with World Bank leadership and their peers from across the globe, they will explore policies and practices their parliaments can put in place as well as ways to enhance budget oversight to survive the health emergency and recover in a sustainable manner for stronger development outcomes.
World Bank speakers include Ceyla Pazarbasioglu, Vice President, Equitable Growth, Finance and Institutions; and Aki Nishio, Vice President, Development Finance, alongside the Rt. Hon. Liam Byrne MP, UK and Chair of the Parliamentary Network on the World Bank and IMF; Kevin Watkins, Chief Executive, Save the Children; and Members of Parliament from concerned countries. It will be moderated by Hon. Hervé Berville MP, France.
Parliamentarians are invited to register by July 7 here.