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Un paso adelante en beneficio de la deuda soberana

NUEVA YORK – Cada país desarrollado tiene una ley de quiebra, pero no existe un marco equivalente para los prestatarios soberanos. Ese vacío legal reviste importancia, porque, tal como ahora podemos comprobar en Grecia y Puerto Rico, puede succionar la sangre de las economías hasta dejarlas casi sin vida.

En el mes de septiembre, las Naciones Unidas dieron un gran paso con dirección a llenar este vacío, al aprobar un conjunto de principios básicos para procesos de reestructuración de deuda soberana. Estos nueve preceptos – específicamente el derecho soberano a iniciar la reestructuración de una deuda, la inmunidad soberana, el tratamiento equitativo de los acreedores, la reestructuración por (súper) mayoría, la transparencia, la imparcialidad, la legitimidad, la sostenibilidad y la buena fe en las negociaciones – se constituyen en los fundamentos sobre los que se basa una eficaz norma jurídica internacional.

El apoyo abrumador a estos principios, demostrado por el hecho de que 136 miembros de la ONU votaron a favor de los mismos y sólo seis en contra (estos últimos liderados por Estados Unidos), muestra el grado de consenso global sobre la necesidad de resolver oportunamente las crisis de deudas. Sin embargo, puede que dar el siguiente paso – es decir, construir un tratado internacional que establezca un régimen mundial sobre quiebra y que sea vinculante para todos los países – sea más difícil.

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