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News

Atlas of Vulnerability: The Pandemic in Latin America and the Caribbean

LATINDADD and Jubilee USA created an interactive map to highlight the range of factors that determine the response capacity of developing countries in the face of the COVID-19 pandemic.

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News

IFF: Lobbying against Private Debt Relief for Developing Countries

The IIF & debt relief

SOMO Report: How the Institute of International Finance lobbies to prevent private debt relief for developing countries

A new report by SOMO exposes how the Institute of International Finance (IIF) has been given a privileged role by the G20 to facilitate debt relief by private creditors to the poorest countries, but has failed to deliver debt payment suspension or cancellation under the G20 Debt Service Suspension Initiative (DSSI).

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News

Provide Debt Relief for a Green and Inclusive Recovery

SOAS ICOP Policy Briefing and Podcast by DRGR-author Ulrich Volz

In line with recommendations for a green and inclusive recovery developed by an international team of economists, DRGR-author Ulrich Volz, Director of the Centre for Sustainable Finance at SOAS, urges the UK government, host of COP26, to advance urgently needed steps.

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News

UN General Assembly 2021 – Debt Highlights

As part of Eurodad’s advocacy efforts, the civil society network followed the interventions of heads of state with a focus on debt and climate issues at the United Nations General Assembly (UNGA) of 2021. We share below a list with links to the relevant speeches on these issues that Eurodad assembled from watching the debates at UNGA.

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News

New Briefing on Interplay between Debt and Climate Crisis by Jubilee Debt Campaign

Ahead of the climate conference (COP26) taking place in Glasgow later this year, a group of several activist networks – including Afrodad and Global Justice now – released a concentrated briefing on the dangerous simultaneity of the debt and climate crises.

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Publications

New Background Paper on Lessons from the Brady Plan

The paper by DRGR authors Stephany Griffith-Jones, Kevin Gallagher, and Ulrich Volz reviews the main features of and experiences with the Brady Plan, which in 1989 laid the foundation for the restructuring of the sovereign debt of mainly Latin American countries. It argues that the combination of credit enhancement for restructured debt, moral suasion, and tax as well as regulatory relief to encourage private creditors to participate in debt restructurings may provide a template for addressing today’s sovereign debt problems.

Read Background Paper #7 here.

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News

Former Maldives President Calls for Debt Restructuring to Fight Against Climate Change

Mohamed Nasheed warns that without restructuring, the island nation can’t afford projects to protect its land and citizens.

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News

10-Minute Explainer Video: Debt Relief & The Poorest Countries With Stephany Griffith-Jones

The World Bank and IMF are likely to announce a new debt relief initiative at COP26, tying debt relief to Green investment. At the Centre for the Study of Financial Innovation (CSFI), DRGR-author Stephany Griffith-Jones explains our proposal as an alternative based on the Brady Plan that helped Latin America in the 1970s/80s, in which creditors would swap existing debt for guaranteed debt (with a haircut).

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Press

“Sovereign debt was already a problem before Covid”

News organization “Quartz” quotes DRGR-authors Ulrich Volz and Kevin Gallagher in article on debt-for-climate swaps.

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News

Chart of the Week: Guaranteeing a Green and Inclusive Recovery

As the Global South grapples with a deadly pandemic and growing climate concerns, the United Nations Development Program estimates developing countries and emerging economies owe close to $1.1 trillion in debt service payments in 2021 alone. Comprehensive debt relief is needed to avoid this looming crisis, but existing relief structures, such as the G20’s Debt Service Suspension Initiative and Common Framework for Debt Treatments, fall short in meeting the severity of the moment.