A/RES/59/222 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; 20. Welcomes the ongoing efforts, including those of the Bretton Woods institutions, to improve the assessment of debt sustainability in low- and middleincome countries through, inter alia, the development of better tools to deal with exogenous shocks and the need to take country-specific factors into account; 21. Requests the Secretary-General to report to the General Assembly at its sixtieth session on the implementation of the present resolution; 22. Decides to include in the provisional agenda of its sixtieth session, under the item entitled “Macroeconomic policy questions”, the sub-item entitled “International financial system and development”. 75th plenary meeting 22 December 2004 5