On September 9 the UN General Assembly voted on a Resolution entitled “the Basic Principles on Sovereign Debt Restructuring Processes Resolution,” which envisaged a multilateral legal framework for sovereign debt restructuring.

The 193-member United Nations General Assembly voted by an overwhelming majority to adopt a multilateral legal framework for sovereign debt restructuring. The resolution drafted on behalf of a Group of 77  and China managed to gather 124 votes in favor of the Resolutio...


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