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V20 issues Statement on Debt Restructuring

V20 Statement on Debt Restructuring Option for Climate-Vulnerable Nations
STATEMENT BY THE V20 PRESIDENCY

The V20 Group are the finance ministers of the Climate Vulnerable Forum (CVF). The CVF encompasses 48 countries with 1.2bn people. Ahead of COP26, the V20 has issued a statement on Debt Restructuring that draws upon the proposal “Debt Relief for a Green and Inclusive Recovery (see our 3-minute video for a quick explanation).

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DRGR at CNBC Africa

Moritz Kraemer, Senior Advisor to the Debt Relief for a Green and Inclusive Recovery Project and contributor to our report, has been interviewed by CNBC Africa on the way forward for African Debt.

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Statement on Debt Relief for a Green and Inclusive Recovery

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.

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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.

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Debt Relief for a Green and Inclusive Recovery

Report, Videos and Slides of the Launch

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.
Here you find key elements of the proposal and the launch:

Full Video Recording:

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PM Mia Mottley’s Keynote at the Launch of the Report

This is the transcript of Barbados Prime Minister Mia Mottley’s speech delivered at the launch of the report “Debt Relief for a Green and Inclusive Recovery“. The transcript is not official – please listen yourself at the recording.

Thank you for that very kind introduction, Stephany, and also for your invitation to participate in this important forum and to share my thoughts on a most timely topic. I trust that it will add to the discourse that is occurring globally, but more importantly, that you get an insight into the challenges faced by us in small island developing states.

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Gordon Brown’s Keynote at the Launch of the Report

Transcript of the video provided by Gordon Brown, United Nations Special Envoy for Global Education and former Prime Minister of the United Kingdom, for the launch of the report “Debt relief for a Green and Inclusive Recovery”

This conference today is of utmost importance, and in the month that we have found that we have an American president committed to net carbon zero by 2050 and a Chinese president committed to net carbon zero by 2060, this meeting is of great global significance as we fashion the new building blocks to take us there.