Activities of Adam SZEJNFELD related to 2016/2241(INI)
Plenary speeches (1)
Enhancing developing countries' debt sustainability (A8-0129/2018 - Charles Goerens) PL
Shadow reports (1)
REPORT on enhancing developing countries’ debt sustainability PDF (444 KB) DOC (57 KB)
Amendments (15)
Amendment 16 #
Motion for a resolution
Recital H
Recital H
H. whereas threats to debt sustainability include not only deteriorating terms of trade, natural and man-made disasters, adverse trends and volatility on international financial markets, but also irresponsible lending and borrowing, the mismanagement of public finances, the misuse of funds, and corruption; whereas the more effective mobilisation of domestic resources offers strong prospects of improved debt sustainability;
Amendment 19 #
Motion for a resolution
Recital I
Recital I
I. whereas, while the UNCTAD principles for responsible sovereign lending and borrowing and the G20 operational guidelines for sustainable financing are undeniably useful for the formulation of regulatory framework provisions, priority must be given to ending irresponsible practices through the introduction of transparent principles, suitable deterrents and, where justified, penalties as well;
Amendment 47 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Points out that credit facilities are an essential means of ensuring a dignified future for developing countries; emphasises that access to international financial markets enables developing countries to raise funds with a view to achieving development goals;
Amendment 62 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Considers that responsibility for spiralling (external) debt rests primarily with the politicians governing the countries in question and that, in many cases, their creditors must also be held accountable for the resulting debt crisis, where they grant loans without taking into account the borrowers’ actual ability to repay them;
Amendment 71 #
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Takes the view that, where the misuse of public funds is identified by the authorities, creditors ought to trigger warning measures, and where those are not effective, impose sanctions to suspend or even require that loans be repaid before the terms under which they were granted expire;
Amendment 72 #
Motion for a resolution
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Calls on the Commission and the Member States to support developing countries when it comes to promoting the public availability of data on their sovereign debt and social education in that area, because detailed information on the state of public finances is rarely available to civil society in developing countries;
Amendment 77 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Notes that most of the sustainable development goals can be viewed in terms of human rights and, as such, are an end in themselvimportant measures when it comes to combating poverty, whereas debt redemption, on the other hand, is merely a means to an end; points out that commitments, including loans, are made in pursuit of those goals;
Amendment 80 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. EndorseRecalls the guiding principles on foreign debt and human rights formulated by the Office of the United Nations High Commissioner for Human Rights, under which the right to achievement of the sustainable development goals should take priority over debt repayment; takes the view that borrower countries should make optimum use of their financial resources to achieve the SDGs, in particular as regards human rights; points out that this should involve monitoring the debt situation in order to avoid incurring excessive or disproportionate debt servicing costs, which eat into the resources required to achieve development goals; points out that the finances and commitments of debtor countries should be adapted and modified to reflect the need to achieve the sustainable development goals, including the primacy of human rights;
Amendment 86 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Urges development stakeholders to assess the impact of debt servicing on the financing capacity of heavily indebted countries in the light of the SDGs, for which results must be achieved by 2030, taking precedence over the rights of those creditors who knowingly make loans to corrupt governments;
Amendment 104 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Deplores the refusal by the EU Member StatesPoints out that in 2015, following the adoption of Council Common Position 11705/15 (of 7 September 2015), the EU Member States refused to approve UN Resolution A/RES/69/319 concerning basic principles for sovereign debt restructuring, which was nevertheless adopted by majority vote in the UN General Assembly on 10 September 2015;
Amendment 107 #
Motion for a resolution
Paragraph 14 – introductory part
Paragraph 14 – introductory part
14. Calls on the EU Member States to act Takes the view that it is essential for EU Member States and international financial institutions the mandate adopted in Resolution A/RES/69/319 of 10 September 2015 in order to:o consider developing mechanisms to respond to crisis situations in developing countries and to support debt restructuring in those countries;
Amendment 110 #
Motion for a resolution
Paragraph 14 – point a
Paragraph 14 – point a
Amendment 113 #
Motion for a resolution
Paragraph 14 – point b
Paragraph 14 – point b
Amendment 122 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. UrgTakes the adoption of a rule applicable in cases of impending insolvency, depriving creditors of the right to initiate legal proceedings against a debtor country if the loan in question was not duly authorised by its national parliamentview that, in order to avoid the risk of insolvency, developing countries should set borrowing limits via budget legislation adopted by national parliaments; takes the view, furthermore, that credit institutions should take that legislation into account, and that failing to comply with it should have consequences for both debtors and creditors;
Amendment 129 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Calls on institutional and private creditors to agree to a debt moratorium in the aftermath of a natural disaster or acute humanitarian crisis, in order to enable a debtor country to devote all itsthe necessary resources to securing a return to normality;