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.
Categories
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.
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.
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).
Categories
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.
Categories
V20 Statement on Debt Restructuring
The V20 has issued a statement on Debt Restructuring that draws upon the proposal “Debt Relief for a Green and Inclusive Recovery”.
The World Bank and IMF are likely to announce a new debt relief initiative at COP26, tying debt relief to Green investment. At the Centre for the Study of Financial Innovation (CSFI), DRGR-author Stephany Griffith-Jones explains our proposal as an alternative based on the Brady Plan that helped Latin America in the 1970s/80s.
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.
Categories
