Comprehensive debt statistics are crucial for both debt crisis prevention and resolution. The Addis Agenda recalls the need to strengthen information sharing and transparency in debt sustainability assessments.
The IMF is working towards creating a central database on debt restructurings. This database would serve as a central and comprehensive repository of information on sovereign debt restructurings and would combine data from external sources and information from IMF’s own repositories. The database is intended to cover sovereign debt restructuring episodes in detail, including information on the terms as well as economic, financial and legal aspects of restructurings across episodes.
The IMF staff continues to liaise with the Paris Club and experts in the field to further improve the information that has been gathered so far. The initial stock-taking of the existing databases reveals that information on restructurings with official creditors is somewhat sparse. The IMF staff has been in touch with the Paris Club and other experts to learn more about the gaps in the existing databases and potential ways in which the relevant information (e.g., debt relief from official creditors in NPV terms) may be provided within the database. Consultation with experts and stakeholders will continue in the coming months to further explore public data sources and examine estimation methodologies where data are currently unavailable or documented inconsistently.