A new report by the Debt Relief for a Green and Inclusive (DRGR) Project explains why MDBs must be included in debt relief efforts, estimates their fair share of the burden and explores policy alternatives to preserve their high credit ratings.
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The September of Summits
by Sarah Ribbert (Project Coordinator) and Arabella Wintermayr (Editor)
The Africa Climate Summit (ACS) and the Finance in Common Summit (FiC) held in September reflected a growing momentum in the discussion of the climate-debt nexus. Even though commitments from traditional donor countries and institutions still fall short of the pressing issues at hand, emerging forums inject fresh perspectives and a new sense of urgency.
by Sarah Ribbert (Project Coordinator) and Arabella Wintermayr (Editor)
Despite the urgency of the crisis, the Summit fell short of agreeing on a decisive debt relief plan to tackle the pressing challenges faced by indebted developing and emerging economies. Nevertheless, important alliances were announced during the event.
On the occasion of the Paris Summit for a New Global Financing Pact, the Finance Ministers of the V20 released a statement on the newly formed “Emergency Coalition for Debt Sustainability and Climate Prosperity”. The DRGR project is listed as a technical partner.
By Amanda Brown
On Tuesday, May 2, 2023, the Debt Relief for a Green and Inclusive Recovery (DRGR) Project hosted the webinar launch of its new report, “Debt Relief for a Green and Inclusive Recovery: Guaranteeing Sustainable Development.”
A new report from the DRGR project analyzes new data on the level and composition of public and private external sovereign debt for emerging markets and developing economies (EMDEs).
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The Debt-Climate-Nexus
The DRGR Project Co-Chairs comment on the tightened monetary policy of central banks, taking dozens of climate-vulnerable, highly-indebted countries to the edge of a financial abyss.
DRGR Project Co-Chair Kevin P. Gallagher on why debt restructuring must be linked with climate and development goals.
The countries of the Global South have contributed little to climate change. But they are particularly vulnerable to its impacts. Now, as a result of COVID-19, debt levels in the Global South have skyrocketed. As a consequence, a triple crisis of health, climate change and lost development is looming. How can highly indebted developing countries respond to these challenges?
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