GDP Center Publishes Paper on Debt Relief & Green Development
On June 28, 2021, the Global Development Policy (GDP) Center, an affiliated regional center at the Frederick S. Pardee School of Global Studies at Boston University, the Heinrich Böll Foundation and the Centre for Sustainable Finance at SOAS, University of London published a new report exploring global debt relief strategies that encourage sustainable development.
The report, titled “Debt Relief for a Green and Inclusive Recovery Securing Private-Sector Participation and Creating Policy Space for Sustainable Development,” was co-authored by Ulrich Volz, Shamshad Akhtar, Pardee School Professor of Global Development Policy and Director of the GDP Center Kevin Gallagher, Stephany Griffith-Jones, Jörg Haas and Moritz Kraemer. The report declares it is time for the G20 to be bold and revamp their approach, citing historic evidence that delays will only lead to more severe and even disastrous outcomes for debtors and creditors alike. It lays out an ambitious proposal for concerted and comprehensive debt relief on a global scale to free up resources in heavily indebted developing countries to support sustainable recoveries, boost economic resilience and foster a just transition to a low-carbon economy.
The full report, as well as a detailed recap blog, can be read on the GDP Center’s website. The report was also the subject of a Quartz and Reuters article.
The GDP Center is a university-wide research center affiliated with the Pardee School of Global Studies. The GDP Center’s mission is to advance policy-oriented research for financial stability, human well-being, and environmental sustainability. Visit the GDP Center’s website for more.