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The Need for Debt-for-Climate Swaps

Op-Ed by Shamshad Akhtar, Kevin P. Gallagher, Stephany Griffith-Jones, Jörg Haas, Ulrich Volz

With developing countries facing a debt crisis that will only get worse as the COVID-19 pandemic continues, it is already inevitable that massive debt relief will be necessary. The only question is whether it will be designed to address the even larger climate crisis that is approaching.