World leaders have added their voices to a growing chorus calling for comprehensive debt relief linked to a green and inclusive recovery that involves private sector participation and middle-income countries. Our new report provides a blueprint for doing just that.
On Monday, 28. June 2021 the Heinrich Böll Stiftung, the Centre for Sustainable Finance at SOAS University London and the Global Development Policy Center, Boston University hosted an expert webinar discussion and presentation of its new report. Read the full announcement of the event here.
Five of the authors of our proposal “Securing Private Sector Participation and Policy Space for Sustainable Development” – Shamshad Akhtar, Kevin P. Gallagher, Stephany Griffith-Jones, Moritz Kraemer and Ulrich Volz – presented its key elements and calls for action.
They were joined by the following keynote speakers:
- Alicia Bárcena Ibarra, Executive Secretary, United Nations Economic Commission for Latin America and the Caribbean
- José Antonio Ocampo, Professor of Professional Practice in International and Public Affairs and Director of the Economic and Political Development Concentration at the School of International and Public Affairs, Columbia University
- Louis Kasekende, Executive Director, Macroeconomic and Financial Management Institute of Eastern and Southern Africa
Read the Blog Summary on the discussion by Rebecca Ray, Global Development Policy Center, Boston University, here.
Full Video Recording
In the “Breakingviews” section at Reuters, our co-authors Shamshad Akhtar and Ulrich Volz write about the deceptive calm and misplaced optimism in debt markets. They point out the enormous hurdles that developing and emerging economies face in recovering from the COVID-19 pandemic and meeting key climate and development goals at the same time.
A proposal by Ulrich Volz, Shamshad Akhtar, Kevin P. Gallagher, Stephany Griffith-Jones, Jörg Haas and Moritz Kraemer.
The world’s largest news channel reports exclusively on our report, developed by the Boston University Global Development Policy Center, the Heinrich Boell Foundation and the Center for Sustainable Finance at SOAS University of London.
Presentation of a new proposal of the project “Debt Relief for a Green and Inclusive Recovery”
Join the Heinrich Böll Stiftung, the Centre for Sustainable Finance at SOAS University London and the Global Development Policy Center, Boston University for an expert webinar discussion and presentation of its ambitious proposal during London Climate Action Week on Monday, 28. June 2021 15:00 – 16:30 CEST.
“Five ways to align debt with climate and development goals”: Katie Gallogly-Swan, Rebecca Ray and B. Alexander Simmons from the Boston University Global Development Policy Center published an Op-Ed on the web presence of the “World Economic Forum” quoting the DRGR project.
On June 1 the T20-associated Webinar addressed the risk of external debt distress which middle-income countries are facing: As the world runs the risk of a financial crisis from the COVID-19 pandemic, MICs are showing particularly high vulnerabilities. This is worrying, as most of these countries are not covered by current debt relief schemes. Read the full announcement here.
Questions concerning the consequences of rising debt levels in MICs for the global community and ways to support affected countries were discussed by the following speakers, among them DRGR report authors Shamshad Akthtar and Kevin P. Gallagher:
- Avinash PERSAUD, Special Envoy to Mia Mottley, the Prime Minister of Barbados
- Carmen REINHART, Vice President and Chief Economist, World Bank Group
- Shamshad AKHTAR, Chairperson, Pakistan Stock Exchange; Former Central Bank Governor and Minister of Finance, Pakistan
- Rakesh MOHAN, President and Distinguished Fellow, Centre for Social and Economic Progress (CSEP), India
- Franco BRUNI, Vice President, ISPI; Lead Co-Chair, T20 Italy TF9 on International Finance
- Kevin P. GALLAGHER, Director, Global Development Policy Center, Boston University; Co-Chair, T20 TF9 on International Finance
Video Recording (starting at 32:20 with the presentation by Shamshad Akthar):
The South Asian nation reveals its plans to both tackle climate change and debt with green financing.
ISPI, the T20 National Coordinator and Chair, and Boston University Global Development Policy Center are co-promoting the T20 Associated-event “Meeting the Moment: Debt Relief for Middle Income Countries”, in cooperation with the Creco Research Institute, the Centre for Social and Economic Progress, The Group of 24, the Centre for Finance and Development at the the Graduate Institute of International and Development Studies, the Labour 20 and LPEM FEB UI. The public webinar will take place on Tuesday, June 1 at 10 AM EST/4 PM CEST. It features Shamshad Akthar from the Core Group of the Debt Relief for a Green and Inclusive Recovery Project, giving a preview of our next analysis.