The following Statement on Debt Relief for Green and Inclusive Recovery is supported by 23 former Central Bank Governors and former Finance Ministers from around the world. The statement calls on the G20 to enact a Debt Relief for a Green and Inclusive Recovery Initiative that requires bilateral, multilateral,and private sector debt relief on a grand scale, analogous to the Highly Indebted Poor Countries Initiative.
The G20 Debt Plan Does Not Go Far Enough
The COVID-19 crisis has come at the worst possible time for humanity. The poorest countries were already struggling to meet their development goals in the face of cyclones, wildfires, and droughts, and the world now has only a decade left to slow down increases in global temperature and sea levels before they become catastrophic, and invest in climate-resilient development.
On Monday, 16. November 2020, 2pm UTC, we launched the report “Debt Relief for a Green and Inclusive Recovery”. It puts forth an ambitious proposal for concerted and comprehensive debt relief on a global scale to support sustainable recoveries, economic resilience, and a just transition to a low-carbon economy.