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Locked in Crisis: Why Malawi Can’t Achieve Meaningful Debt Restructuring

In the midst of a complex web of crises, Malawi is facing a debt restructuring process that does not address the depth of its challenges. To embark on a path to sustainable development and economic recovery, countries like Malawi need a holistic approach that takes into account all aspects of their economic and social realities – and includes all creditor classes.

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Video

Video: Explaining the Debt Relief for a Green and Inclusive Recovery Proposal

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, high interest rates and climate-related disasters, debt levels in the Global South have skyrocketed. As a consequence, a triple crisis of debt, climate change and lost development is emerging. How can highly indebted developing countries respond to these challenges?

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News

Winner Takes All – Twice: How Bondholders Triumph, Before and After Debt Restructuring

Following the 2023 International Monetary Fund (IMF)/World Bank Group Annual Meetings in Marrakech, more details on the debt negotiation of Zambia and Suriname have surfaced. Among the intricate negotiations, one group appears to have emerged victorious, time and time again – bondholders.

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News

Debunking Misconceptions: How Multilateral Development Banks Can Safely and Effectively Participate in Debt Relief Efforts

Despite the precedent set by the Highly Indebted Poor Countries (HIPC) Initiative, the notion of involving multilateral development banks (MBDs) in debt relief continues to evoke skepticism and apprehension. DRGR Researcher Marina Zucker-Marques demystifies the topic of MDBs and debt relief, showing why their inclusion is not merely desirable but entirely achievable.

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News

The Annual Meetings: A Missed Opportunity to Provide a Systemic Response to a Systemic Problem

For the first time in fifty years, the International Monetary Fund (IMF) and the World Bank Group convened on the African continent. Here are the main developments regarding the debt crisis from the Annual Meetings in Marrakech.

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News

Frequently Asked Questions: Debt Relief for a Green and Inclusive Recovery

Find answers to frequently asked questions on the debt crisis, the DRGR proposal and how to guarantee sustainable development.

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News

Multilateral Development Banks Need to be Involved in Debt Relief Efforts – Here’s How It Would Work

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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News

The September of Summits

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.

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News

Summit for a New Global Financial Pact: Key Takeaways on Debt

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.

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Statement

V20 Statement on Emergency Coalition for Debt Sustainability and Climate Prosperity

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.

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Video

Webinar Summary – Guaranteeing Sustainable Development: Debt Relief for a Green and Inclusive Recovery

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.”

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News

A New Common Framework Toward 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).