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<p>The UK strongly supports the Common Framework for future debt treatments which
will facilitate quicker and simpler restructurings where required. A total of 77 of
the least developed countries are eligible for treatment under the Common Framework.</p><p>Under
the Common Framework, private sector creditors will be required to implement debt
restructurings that are at least equivalent to those agreed by official creditors.</p><p>We
do not hold a breakdown of the proportion of these countries’ debt that is owed to
private creditors governed by English law or entities resident in the UK. However,
in 2019 the IMF assessed that 45% of the total outstanding stock of international
sovereign bonds by nominal principal amount are governed under English law.</p>
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