The report “Debt Relief for Green and Inclusive Recovery” proposes that low and middle-income countries with unsustainable debt burden receive substantial debt relief by public and private creditors, in order to provide fiscal space for investment in Covid-19-related health and social spending, climate adaptation and green economic recovery strategies.
Con el propósito de permitir una recuperación ecológica y socialmente justa para todos los países, resulta necesario abordar urgentemente los problemas de la deuda pública para que todos los gobiernos tengan el espacio fiscal necesario para financiar gastos sanitarios y sociales cruciales e invertir en una recuperación ecológica e inclusiva.
The 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.
Several authors have been asked to prepare background papers as a contribution to the discussions of the core group of the Debt Relief for Green and Inclusive Recovery (DRGR) project. They reflect the position of the respective authors, not the project.
Background Paper #1: Scaling up ecosystem-based debt-for-climate swaps: from the millions to the billions. By Stephen Leonard, Ellycia Harrould-Kolieb, Oscar Reyes, Justine Nicole Torres, Elizabeth Crespo
Background Paper #5: Debt for Climate opportunities in South Africa. The role of concessional finance in unlocking the country’s energy transition. Emily Tyler, Celeste Renaud, Adam Roff (Meridian Economics)