Gallagher Co-Authors Op-Ed on Global Economic Recovery
Kevin Gallagher, Professor of Global Development Policy and Director of the Global Development Policy Center (GDP Center) at the Frederick S. Pardee School of Global Studies at Boston University, co-authored an Istituto per gli studi di politica internazionale op-ed explaining how the G20 can lead the way on global debt relief equitable economic recovery.
The article, titled “G20’s Turn to Lead on Debt Relief for a Global Recovery,” was penned by Gallagher as well as Shamshad Akhtar, former Governor of the State Bank of Pakistan and Finance Minister for Pakistan; Stephanie Griffith-Jones, Financial Markets Director at the Institute of Development Studies; Ulrich Volz, Professor at SOAS University of London; and Moritz Kraemer, Chief Economist at CountryRisk.io.
In the piece, the authors draw from previously published research and lay out ways that the G20 can support low and middle income countries facing enormous debt burdens. Gallagher and his fellow scholars propose a three-pronged plan that supports debt relief for a green and inclusive economic recovery, which suggests:
- Comprehensive debt relief by public creditors.
- Private-sector involvement, with creditors swapping their old debt for new “Green Recovery Bonds.”
- Debt swaps and new SDG-aligned debt instruments.
The full article can be read on Istituto per gli studi di politica internazionale’s website.
Kevin Gallagher is a professor of global development policy at Boston University’s Frederick S. Pardee School of Global Studies, where he directs the Global Development Policy Center. He is author or co-author of six books, including most recently, The China Triangle: Latin America’s China Boom and the Fate of the Washington Consensus. Read more about Professor Gallagher on his Pardee School faculty profile.