SIA, TBMA and other Associations Submit Comments to the IMF on Sovereign Debt Restructuring
The Securities Industry Association (SIA)*, The Bond Market Association (TBMA)*, the Emerging Market Traders Association (EMTA), International Primary Market Association (IPMA), and International Securities Market Association (ISMA) provide comments to the International Monetary Fund (IMF) on a recent proposal on a new approach to sovereign debt restructuring. The groups strongly disagree with several of the key assumptions used for the proposal, and shares their concern that, if approved, the principal effect of the proposal would be to further reduce the flow of private portfolio capital to developing countries.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.