{"id":20085,"date":"2022-04-19T13:30:16","date_gmt":"2022-04-19T17:30:16","guid":{"rendered":"https:\/\/www.bu.edu\/gdp\/?p=20085"},"modified":"2022-04-19T13:30:16","modified_gmt":"2022-04-19T17:30:16","slug":"addressing-the-debt-crisis-in-the-global-south-debt-relief-for-sustainable-recoveries","status":"publish","type":"post","link":"https:\/\/www.bu.edu\/gdp\/2022\/04\/19\/addressing-the-debt-crisis-in-the-global-south-debt-relief-for-sustainable-recoveries\/","title":{"rendered":"Addressing the Debt Crisis in the Global South: Debt Relief for Sustainable Recoveries"},"content":{"rendered":"<figure id=\"attachment20088\" aria-describedby=\"caption-attachment20088\" style=\"width: 721px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" src=\"\/gdp\/files\/2022\/04\/david-ress-lvowu4IK6Mc-unsplash-636x476.jpg\" alt=\"\" width=\"711\" height=\"532\" class=\" wp-image-20088\" srcset=\"https:\/\/www.bu.edu\/gdp\/files\/2022\/04\/david-ress-lvowu4IK6Mc-unsplash-636x476.jpg 636w, https:\/\/www.bu.edu\/gdp\/files\/2022\/04\/david-ress-lvowu4IK6Mc-unsplash-1024x767.jpg 1024w, https:\/\/www.bu.edu\/gdp\/files\/2022\/04\/david-ress-lvowu4IK6Mc-unsplash-768x575.jpg 768w, https:\/\/www.bu.edu\/gdp\/files\/2022\/04\/david-ress-lvowu4IK6Mc-unsplash-1536x1150.jpg 1536w, https:\/\/www.bu.edu\/gdp\/files\/2022\/04\/david-ress-lvowu4IK6Mc-unsplash-2048x1534.jpg 2048w\" sizes=\"(max-width: 711px) 100vw, 711px\" \/><figcaption id=\"caption-attachment20088\" class=\"wp-caption-text\">Lima, Peru by David Ress. Photo via Unsplash.<\/figcaption><\/figure>\n<p>A debt crisis is looming in the Global South. High levels of public debt service and insufficient fiscal and monetary space are threatening recoveries and impeding much-needed investments in climate resilience and the 2030 UN Sustainable Development Goals.<\/p>\n<p>A <a href=\"https:\/\/www.think7.org\/publication\/addressing-the-debt-crisis-in-the-global-south-debt-relief-for-sustainable-recoveries\/\" target=\"_blank\" rel=\"noopener noreferrer\"><em><strong>new policy brief<\/strong><\/em><\/a> from the <a href=\"https:\/\/www.think7.org\/task_force\/economic-recovery\/\" target=\"_blank\" rel=\"noopener noreferrer\">Think7 (T7) Task Force on Sustainable Economic Recovery<\/a> makes seven recommendations for the Group of Seven (G7) to address the debt crisis in the Global South and provide all countries with the opportunity to invest in sustainable recoveries.<\/p>\n<h5>Key recommendations:<\/h5>\n<ul>\n<li>Reinforce efforts to increase transparency of public and private sovereign debt.<\/li>\n<li>Push a reform of the International Monetary Fund (IMF) and World Bank\u2019s Debt Sustainability Analysis (DSA) to fully include climate and sustainability risks and investment needs.<\/li>\n<li>Encourage the IMF to create an option for all sovereign debtors to request an updated DSA as a basis for negotiations with its public and private creditors.<\/li>\n<li>Create legal safeguards for debt restructurings and limiting opportunities for holdouts to derail negotiation processes and outcomes.<\/li>\n<li>Increase incentives for private creditor participation in debt re-profiling and restructuring, respecting the principle of comparable treatment of creditors.<\/li>\n<li>Initiate a dialogue with sovereign debtor groups representing climate vulnerable nations.<\/li>\n<li>Assure policy coherence by fostering the alignment of new debt issuance with the climate and sustainability targets.<\/li>\n<\/ul>\n<a href=\"https:\/\/www.think7.org\/publication\/addressing-the-debt-crisis-in-the-global-south-debt-relief-for-sustainable-recoveries\/\" class=\"button\">Read the Policy Brief<\/a>\n","protected":false},"excerpt":{"rendered":"<p>A debt crisis is looming in the Global South. High levels of public debt service and insufficient fiscal and monetary space are threatening recoveries and impeding much-needed investments in climate resilience and the 2030 UN Sustainable Development Goals. A new policy brief from the Think7 (T7) Task Force on Sustainable Economic Recovery makes seven recommendations [&hellip;]<\/p>\n","protected":false},"author":19363,"featured_media":20088,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1151,156,77,144,1150],"tags":[1618,2005,592,1400,461,1056,1241,1756,2004,176,151,750,459,772,748,396,429,568,2002,2003,1061,512,841],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts\/20085"}],"collection":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/users\/19363"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/comments?post=20085"}],"version-history":[{"count":10,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts\/20085\/revisions"}],"predecessor-version":[{"id":20098,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts\/20085\/revisions\/20098"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/media\/20088"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/media?parent=20085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/categories?post=20085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/tags?post=20085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}