Disorderly restructuring of sovereign debt could lead to costly socializing of private debt, attendant economic distress and significant human suffering, the Second Committee (Economic and Financial) heard today as delegates met to discuss external debt sustainability and development.
Second Committee
The Second Committee (Economic and Financial) was the only Main Committee of the General Assembly to date that had adopted a decision on improvements to working methods, Committee Chair Sebastiano Cardi (Italy) told delegates today.
As the Second Committee (Economic and Financial) continued its general debate today, delegates discussed a number of development issues, including the need to tackle external debt.
Efforts to reduce income inequality within and among countries under the sustainable development goals would require theoretical and technical advances, the Second Committee (Economic and Financial) heard today as delegates met for the general debate of the sixty-ninth session.
Sebastiano Cardi, Permanent Representative of Italy to the United Nations, was elected Chair of the Second Committee (Economic and Financial) on 18 June 2014.