10-Minute Explainer: Debt Relief & The Poorest Countries With Stephany Griffith-Jones (IDS/Columbia)

To view the proposal discussed: https://www.boell.de/sites/default/files/2021-06/DRGR%20Report%202021%20Endf.pdf

10-minute Explainer: Debt relief and the poorest countries, with Stephany Griffith-Jones (IDS/Columbia)

Why you should watch: The poorest countries were carrying unsustainable debt loads (bilateral, Chinese, commercial and bonds) even before the Covid crisis - and the collapse of markets (and remittances) has made service of those debts even tougher. The political ramifications are becoming more and more evident - viz. Zambia's change of government over the weekend. The World Bank and IMF are apparently likely to announce a new debt relief initiative at COP26, tying debt relief to Green investment. Stephany Griffith-Jones and two colleagues are proposing an alternative based on the Brady Plan that helped Latin America in the 1970s and 80s, in which creditors would swap existing debt for guaranteed debt (with a haircut). Either way, the humanitarian need for relief is clear.

Stephany Griffith-Jones is an Emerita Professorial Fellow at Sussex's IDS. She is also director of the Financial Markets Program, in the Initiative for Policy at Columbia in NYC. She was brought up in Chile, did her PhD at Cambridge and has written numerous books and articles on economic development.

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Видео 10-Minute Explainer: Debt Relief & The Poorest Countries With Stephany Griffith-Jones (IDS/Columbia) канала Centre for the Study of Financial Innovation