Tackling the triple crisis. Using debt swaps to address debt, climate and nature loss post-COVID-19

Issue paper
, 48 pages
PDF (4.47 MB)
16674IIED.pdf
Language:
English
Published: September 2020
Publisher(s):
Shaping Sustainable Markets Papers
ISBN: 9781784318246
Product code:16674IIED

Even before COVID-19, fears were growing over developing country debt, which had surpassed US$8 trillion by the end of 2019. The pandemic has made the situation much worse as its economic impact pushes millions more women, children and men in these countries into poverty.

This paper shows how, as part of pandemic economic rescue packages, governments have an opportunity to address simultaneously the crises of debt, climate and biodiversity destruction through a new use of the system of debt for climate and nature programme swaps. Increasing the use of these types of debt swaps would benefit lender and debtor governments as well as private creditors.

Cite this publication

Steele, P. and Patel, S. (2020). Tackling the triple crisis. Using debt swaps to address debt, climate and nature loss post-COVID-19. IIED, London.
Available at https://www.iied.org/16674iied