Question to the HM Treasury:

To ask the Chancellor for the Exchequer, what assessment he has made of the adequacy of progress on sovereign debt restructuring processes for low and middle-income states at the Global Sovereign Debt Roundtable on 12 April 2023; and what his priorities are for the next Global Sovereign Debt Roundtable.

The focus of discussion at the last Global Sovereign Debt Roundtable (GSDR) was around the actions that can be taken now to accelerate debt restructuring processes and make them more efficient. I fully endorse the agreement reached to: (1) improve information sharing at early stages of restructurings; and (2) discuss further the assessment and enforcement of comparability of treatment during restructurings. These deliverables will support the swift implementation of the Common Framework and other debt treatments that involve a diverse range of creditors, which is a priority for the UK at the G20 and other fora where debt is discussed, including the GSDR.