The 6th Conference of the Paris Forum at the French Ministry of Economy and Finance on 21 June 2018 marked the inaugural participation of Malaysia that was represented by the Embassy. In his opening remarks, Emmanuel Moulin, head of the Private Office of the French Minister of Economy and Finance hoped the conclusions of the meeting would facilitate work in other international platforms. Moulin delivered the opening remarks on behalf of the French Minister of Economy and Finance who was attending an Econfin meeting in Luxembourg to find a solution for Greek debt.
Recognizing the importance of financing and the impact it has on development, participants exchanged views on best lending and borrowing practices to spur the financing of development without compromising the debt sustainability of borrowing countries. Further contributing to the discussion were countries that provided their experience of transitioning from a debtor to creditor country. The shared responsibility of lenders and borrowers was also highlighted.
Emphasis during the meeting was further given to the implementation of existing initiatives in favour of sustainable financing, with specific focus on the G20 Operational Guidelines for Sustainable Financing and OECD Export Credits Recommendation on Sustainable Financing.
Discussions were also had on the best way to improve transparency on debt data. Participants moreover underlined the need for capacity building to improve data collection and reporting, in many borrowing countries, but also in lending countries.
In essence, the Conference was an opportunity to analyse particular schemes that could undermine the long-term debt sustainability of borrowing countries, including the issue of collateralized debt.
