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News

UN Report Calls for Immediate Action Against Rising Inequality, Quoting the DRGR-Proposal

According to a new report by the United Nations, the COVID-19 pandemic is threatening the fight against poverty and increasing global inequality. In its chapter on debt relief, the text refers to our proposal.

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Publications

Green Investments Pay off, IMF Working Paper Finds

After five years, the cumulative increase in real GDP associated with investments in green energy infrastructure is nearly twice as high as that on spending on non-ecofriendly energy. Findings like these highlight the importance of a post-COVID-19 sustainable recovery not only from an environmental but also an economic perspective.

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Press

Climate Home News Reflects on IMF’s Actions Towards Debt Relief, Quoting DRGR

As the International Monetary Fund plans to inject $650 billion into the global economy, Climate Home News recaps the recent developments in the plea for financial support for vulnerable nations, referring to the DRGR proposal. 

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Events

Online Roundtable Event: Debt Relief for a Green and Inclusive Recovery in Nigeria?

The Centre for the Studies of the Economies of Africa (CSEA) together with the Heinrich Böll Foundation are hosting an online event on ‘Debt Relief for a Green and Inclusive Recovery in Nigeria?’ on Thursday, 8 April at 2 PM (WAT).

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News Publications

The Quiet before the Storm: Eurodad Report warns about Debt Crisis yet to come

According to the briefing “A debt pandemic: Dynamics and implications of the debt crisis of 2020”, public debt of developing countries has increased from an average of 40 to over 60 percent of GDP within the last ten years. More than one-third of the increase took place in 2020 alone. 

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News Publications

Are We Building Back Better? UNEP-Oxford Report Finds: Not Yet.

According to a report launched by the Global Recovery Observatory only  18.0% of announced recovery spending can be considered “green” while just 2.5 % of total COVID-induced expenses to date had “positive green characteristics”. These findings once more stress the importance of the DRGR idea.

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News Publications

Finance for Biodiversity Initiative Refers to DRGR-Proposal in “Greening Sovereign Debt” Report

The “Nature and Climate Sovereign Bond Facility” proposed in a report by Finance for Biodiversity aims to build on investor interest in green debt and create nature-performance bonds and other instruments that align payments with environmental outcomes. 

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Press

DRGR Co-Chair Argues “IMF’s Surcharges Unfit for Purpose” in the FT

Kevin Gallagher is professor and director of the Global Development Policy Center at Boston University’s Pardee School of Global Studies and one of the co-chairs of the DRGR project. In the Financial Times he takes issue with the surcharges that the IMF adds to the interest and fees on its loans.

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News

DRGR-Proposal Receives Recognition in Progressive International’s Policy Briefing

In the run-up to the G20 meeting on February 25 and 26, “Progressive International” featured the DRGR proposal in its policy briefing on “Debt Justice at the G20”.

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News

The DRGR-Idea Is Getting Traction

Both in the EU and the USA the general idea of aligning debt relief with climate action is getting high level support.