Andrew Haviland Director, Office of Monetary Affairs and U.S. Representative to the Paris Club, Department of State
The U.S. Mission hosted a public event at the United Nations on April 11 at which Andrew Haviland, Director, Office of Monetary Affairs and U.S. Representative to the Paris Club, U.S. Department of State, gave a presentation on the sovereign debt landscape. In his remarks (geneva.usmission.gov/2013/04/11/hipc-world/) he pointed out that the current landscape for sovereign debt, which can be characterized as the post-Heavily Indebted Poor Countries (HIPC) debt landscape, offers exciting opportunities and tough challenges for the international community, and especially for developing countries. Debt sustainability has been restored for many low income developing countries and new credit resources are available to help finance development and growth. Countries that borrow effectively, manage their debt wisely, and maintain debt sustainability could benefit from a virtuous cycle of growth and development. Building better debt management and overall public financial management capacity should be a key objective for all. The United States will continue to play an important role in supporting developing countries. We look to help promote economic growth and development, maintain financial stability and security, and foster trade and investment.
U.S. Mission Photo by Eric Bridiers