Guaranteeing a Green and Inclusive Recovery
As the Global South grapples with a deadly pandemic and growing climate concerns, the United Nations Development Program estimates developing countries and emerging economies owe close to $1.1 trillion in debt service payments in 2021 alone. Comprehensive debt relief is needed to avoid this looming crisis, but existing relief structures, such as the G20’s Debt Service Suspension Initiative and Common Framework for Debt Treatments, fall short in meeting the severity of the moment.
A new report from the Boston University Global Development Policy Center, the Heinrich Böll Foundation and the Centre for Sustainable Finance at SOAS, University of London proposes an ambitious blueprint for comprehensive debt relief, anchored by a Guarantee Facility for Green and Inclusive Recovery that would ensure critical participation from the private sector.
