Explanation of Position following the Adoption of the UNGA72 Second Committee Resolution on External Debt Sustainability

Jason Lawrence
Adviser for Economic and Social Affairs
U.S. Mission to the United Nations
New York City
November 28, 2017


Thank you, Chair.

While we are joining consensus on this resolution, we take this opportunity to clarify important points.

With regard to this resolution’s references to the 2030 Agenda for Sustainable Development, the Addis Ababa Action Agenda, the Paris Agreement, and climate change, we addressed our concerns in a General Statement delivered on November 17.

Regarding the references to non-cooperative minority bondholders, we note that the ability of such bondholders to block a deal is permitted in the bond issuance agreements agreed to by the issuing country. As such we believe it is outside the scope of a UN resolution to express concern about the enforceability of contracts.

Thank you.