In the midst of the annual Spring Meetings of the International Monetary Fund and the World Bank Group, the NY Times published an article on the “systemic risk” debt and climate change pose on the world economy, quoting the DRGR proposal.
As reported by Reuters, IMF Managing Director Kristalina Georgieva said “green debt swaps have the potential to spur accelerated action on climate change in developing countries”, announcing appropriate instruments by November.
In the paper “Climate, COVID-19, and the Developing Country Debt Crisis” the research institute for climate policy examines the potential of climate-for-debt swaps and ways to define possible candidates.
A new report by the Boston University Global Development Policy Center examines existing proposals to combat COVID-19. It features a chapter by DRGR author Ulrich Volz that draws from our 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.
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.
On February 24, UNDP hosted an online-discussion on our proposal for Debt Relief for a Green and Inclusive Recovery. Read the full announcement here.
Three of the report authors, Shamshad Akhtar, Stephany Griffith-Jones, and Ulrich Volz presented its key elements and calls for action.
They were then joined by the UNDP colleagues
- Luis Felipe Lopez Calva (UN ASG and UNDP Director, RBLAC),
- Celine Moyroud (UNDP Resident Representative, Lebanon) and
- Raymond Gilpin (Chief Economist, UNDP Africa).
The discussion was moderated by George Gray Molina (GPN Chief Economist, UNDP).
Full Video Recording:
Moritz Kraemer, Senior Advisor to the Debt Relief for a Green and Inclusive Recovery Project and contributor to our report, has been interviewed by CNBC Africa on the way forward for African Debt.
Listen yourself to the interesting conversation, that features the DRGR proposal and reflects the concerns of African bond issuers about market access.
On Wednesday, 28. October 2020 the DRGR proposal received several positive commentaries at a pre-launch event at the World Bank. German Executive Director Jürgen Zattler invited multiple report authors to present the core ideas of our report.