fix articles 362656, international capital market association
International Monetary Fund Releases Plans to Stop Predatory Hedge Funds (tags)
The International Monetary Fund (IMF) released new proposals for preventing predatory hedge funds and hold-out investors from blocking debt restructurings. The paper proposes a series of reforms to debt contracts, including strengthened collective action clauses and a modification of the pari passu clause that hold-out hedge funds used to sue Argentina.
UN Vote Tuesday Could Create Global Bankruptcy Process, Deter Predatory Funds (tags)
The UN General Assembly votes Tuesday at 3pm (EDT) on a resolution that could create a global bankruptcy mechanism. Such a process could protect poor countries from predatory funds and limit future defaults. Jubilee USA's leadership, a group of religious leaders and financial experts sent a letter to United States UN Ambassador Samantha Power urging her to support the resolution.
UN Treaty Could Enact Global Bankruptcy Process and Stop Predatory Funds (tags)
The UN General Assembly votes Tuesday on a convention that could enact a global bankruptcy process and stop predatory hedge funds. Bolivia proposed the resolution that if voted upon is expected to pass by a majority. The executive board officers of Jubilee USA sent United States UN Ambassador Samantha Power a letter urging her to support the resolution. Jubilee's 400 US faith communities are holding the Ambassador in prayer as she prepares to vote.