Sovereign Debt Working Group

The Sovereign Debt Working Group (SDWG) is comprised of economic, financial, and legal experts who are examining weaknesses in the sovereign debt architecture - exacerbated by pandemic-induced borrowing and rising interest rates - and developing practical and actionable ideas for reform.

The SDWG is publishing a series of reports, which will provide policymakers and stakeholders with recommendations in the areas of debt transparency, equitable burden sharing, private sector participation, and state-contingent debt instruments. 


Published Reports

I – Sovereign Debt: A Critical Challenge
     Download Report


In the News:
Reuters: Sovereign Debt Distress Rise Prompts Bretton Woods Group Action Plan, (6 April 2021)


II – Debt Transparency: The Essential Starting Point for Successful Reform
      Download Report


In the News:
Financial Times: Act Now to Prevent a New Sovereign Debt Crisis in the Developing World, By William R. Rhodes & John Lipsky (23 March, 2022)
Wall Street Journal: Stemming a Sovereign Debt Crisis, By William R. Rhodes and John Lipsky (31 January, 2022)
Bloomberg: How to Prevent the Coming Sovereign Debt Crisis, By William C. Dudley (31 January, 2022)
Financial Times: Argentina's IMF Deal Offers a Warning on Emerging Market Debt, By: Gillian Tett (3 February 2022)

South China Morning Post: China's Backing for Global Debt Transparency Crucial to Contain Covid-Induced Stress in Emerging Markets, (31 January 2022)
Devex: As Defaults Loom, Calls Mount for G-20 to Tackle Debt Transparency, (1 February 2022)
Financial Times: Letter: Too many sovereign borrowers still fail the corruption test, (March 27 2022)
Financial Times: Unsafe at any price, (April 13 2022)
Keeping an Eye on Global Transparency: G-20 Effort on Debt Transparency Comes Up Short; Do Other Solutions Exist? (August 11 2022)

Oxford University Press Capital Markets Law Journal: Debt Transparency: The Essential Starting Point for Successful Reform, (8 June, 2022)


Shoring Up Debt Sustainability, April 6, 2022 – Watch Video Here
Debt Transparency: The Essential Starting Point for Successful Reform, January 31, 2022 – Watch Video Here
Preventing a Global Debt Crisis, BWC Annual Meeting April 2021 – Watch Video Here


Connect With Us
For more information or to get involved with the SDWG, please contact us at [email protected]