CPSI Newsletters
1 minute read | May.30.2024
Orrick's Thomas Laryea recently spoke on a podcast episode hosted by the Caribbean Progress Studies Institute (CPSI) to discuss the complexities of sovereign debt restructuring and the critical issue of climate finance. Drawing on his extensive experience with the IMF, Thomas provides a unique perspective on the negotiation process between state debtors and creditors during financial instability.
Thomas uses Suriname's recent restructuring as a case study, highlighting the delays caused by its largest creditor, China, and the need for dynamic, case-by-case solutions in debt negotiations. He explains, "There's no one-size-fits-all for restructuring. Dynamic solutions must be brought to the table to bring each party as close as possible to their perceived conditions for a win."
Addressing climate finance, Thomas emphasizes the need for innovative funding solutions for Caribbean countries facing significant climate risks, including revision of the legal conditions for international organizations to provide concessional financing for such countries. He also supports blended finance solutions that leverage both private and public sources of funding.