19. Acknowledges the ongoing work towards a more comprehensive approach to sovereign debt restructurings, supports the increasing inclusion of collective action clauses in international bond issuing, and strongly encourages leading bond issuing countries and the private sector to make substantial progress on the preparation of an effective code of conduct, bearing in mind the need not to preclude emergency financing in times of crisis, to promote fair burden-sharing and minimize moral hazard, which will engage debtors and creditors to come together to restructure unsustainable debts in a timely and efficient manner;
19. 确认为争取更全面地处理主权债务重组而不断进行的工作，支持越来越多地将集体行动条款列入国际债券的发行，并大力鼓励主要的债券发行国家和私营部门就编写一项有效的行为守则取得重大进展，同时考虑到需要不排除在发生危机时提供紧急融资，促进公平分摊负担和尽量减少道德风险，这将使债务人和债权人能一起及时高效地重组无法持续承受的债务结构；