Debt Relief for a Green and Inclusive Recovery
On Monday November 16th the Report “Debt Relief for a Green and Inclusive Recovery” was launched. The Report calls on the G20 to move beyond the Common Framework for Debt Treatments announced on November 13, 2020. The Report, published by the Heinrich Böll Foundation, the Global Development Policy Centre and the Centre for Sustainable Finance at SOAS, proposes substantial debt relief by public and private creditors for low- and middle-income countries with unsustainable debt burdens, in order to provide fiscal space for investment in COVID-19-related health and social spending, climate adaption and green economic recovery strategies.
At the launch, former UK Prime Minister Gordon Brown (video) highlighted that the report is “showing how we start to build an environmentally sustainable future out of the case of COVID and out of the world, disfigured not just by pandemics, but by pollution and by poverty.”
Barbados Prime Minister Hon. Mia Mottley (video) said, “[U]nprecedented times require unprecedented responses.[…] We join the call today for debt relief to be extended beyond the public to the private sector and beyond the poorest countries to middle income countries.