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SUMMARY:Sovereign Debt Restructurings: The Case of Venezuela
DESCRIPTION: \n\nJoin Drexel University’s LeBow College of Business and t
 he Global\nInterdependence Center for a conference on emerging global issu
 es.\n\nThe recently-announced intention of restructuring Venezuela’s\nso
 vereign debt will make it one of most prominent restructuring\nepisodes\, 
 along those of Argentina\, Greece and Ukraine. The estimated\n$150 billion
  restructuring of Venezuela’s sovereign and PDVSA’s\ndebt will be a ma
 jor challenge to the local economy\, creditors and\ninstitutions involved.
  The conference will address pertinent issues to\nthe restructuring\, incl
 uding main causes\, processes\, possible outcomes\nand the impact on the g
 lobal economy.\n\nAGENDA\n\n8:30 A.M. | REGISTRATION + COFFEE/LIGHT REFRES
 HMENTS\n\n9:00 A.M. | INTRODUCTION: THE GLOBAL ECONOMIC SIGNIFICANCE OF\nS
 OVEREIGN DEBT RESTRUCTURINGS *Michael G. Papaioannou\, Expert IMF\n*George
  Tsetsekos\, Drexel University\n\n9:05 - 10:20 A.M. | SESSION 1: THE ROLE 
 OF INSTITUTIONS IN\nVENEZUELA’S SOVEREIGN DEBT RESTRUCTURINGS CHAIR: Lee
  C. Buchheit\,\nCleary Gottlieb Steen & Hamilton LLP PANEL: *Leopoldo Mart
 inez\, LMN\nConsulting *Rafael Molina\, NewState Partners *Pablo Druck\, I
 MF TOPICS:\n*Geopolitical challenges and perspectives *Macroeconomic setti
 ng and\neconomic considerations *Sovereign debt issues and differentiation
 \nbetween Sovereign and PFVSA debt *The potential role of IMF\n\n10:20 - 1
 1:35 A.M. | SESSION 2: MARKET PERSPECTIVES IN VENEZUELA’S\nSOVEREIGN DEB
 T RESTRUCTURING CHAIR: Rafael Molina\, NewState Partners\nPANEL: *Lee Buch
 heit\, Cleary Gottlieb Steen & Hamilton LLP *Richard\nFrancis\, Fitch Cred
 it Ratings *Elena Duggar\, Moody’s Investors\nServices TOPICS: *Contract
 ual challenges and creditors conflicts.\n*Eligible debt\, market valuation
  and NPV haircuts *Missed coupon\npayments\, down-gradings\, ISDA\, CDS an
 d loss of market access *Credit\nRatings Agency perspectives\n\n11:35 - 11
 :45 A.M. | BREAK\n\n11:45 A.M. - 1:00 P.M. | SESSION 3: CREDITORS’ VIEWS
  AND FUTURE\nPERSPECTIVES CHAIR: Hans Humes\, Greylock Capital Management 
 PANEL:\n*Aviva Werner\, ETMA *Tamon Asomuna\, IMF *Thodour Jonasson\, IMF 
 *Mark\nWright\, Federal Reserve Bank of Minneapolis TOPICS: *Holders of\nV
 enezuela’s sovereign and PDVSA debt *Argentina\, Greece\, Ukraine\,\nVen
 ezuela – implications for future restructurings *Global prospects\nfor s
 overeign debt restructurings *Debt outstanding and\nvulnerabilities – wh
 ich conditions make a country a candidate for\nsovereign debt restructurin
 g?\n\n1:00 P.M. | CONCLUDING REMARKS\n 
DTSTART:20180223T133000Z
DTEND:20180223T180000Z
LOCATION:Gerri C. LeBow Hall\, 3220 Market Street\, 220 DiPiero Grand Meeti
 ng Room\, Philadelphia\, PA 19104
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