Kleiman International Consultants, Inc.’s Post

Heavy and rising debt has emerged as one of the toughest hurdle for developing countries to address climate change, alleviate poverty and seek economic development. Removing the burdensome debt will allow countries to invest in their people and their future. Please read full article here https://lnkd.in/dwbsdr8z

🌍💸 Debt Crisis Hits Climate-Vulnerable Nations Hard Alarming news: Debt payments for the 50 countries most vulnerable to the climate crisis have doubled since the pandemic started, reaching a 30-year high! 🔥 Countries at highest risk of global heating now pay 15.5% of government revenues to external creditors 📊 Up from less than 8% pre-Covid and 4% in 2010 The Debt Justice charity's report, using World Bank and IMF data, calls for urgent comprehensive debt relief. This could enable poor countries to invest in tackling the climate crisis. #ClimateJustice #DebtRelief #GlobalDevelopment Source: The Guardian https://lnkd.in/emFZd--v Thoughts on this critical issue?

Join Climate Week of Action: Demand for Debt Justice and a Sustainable Future! As we mark Climate Week of Action, let us confront the elephant in the room: debt injustice. Developing counties already vulnerable to climate impacts are bound by unsustainable debt burdens. Sad isn't it? The alarming reality is stark:global debt stands at an astounding $258 trillion, with developing countries, who are already struggling, owing $11.4 trillion, while, Africa's external debt has ballooned to $829 billion. Climate change amplifies the debt crisis. Climate related disasters have caused $329 billion in economic losses in developing countries alone since 2010. Debt Justice is climate justice. The case of Mauritania illustrates this, with the country spending 54% of its revenue on debt repayment, leaving little for climate resilience. Similarly SIDS dedicate upto 50% of their GDP to debt servicing, exacerbating their climate vulnerability. To address this crisis, we must demand immediate action! This includes canceling unsustainable debts, implementing debt and relief structuring, promoting grant based climate finance and establishing a global debt workout mechanism. We must prioritize debt justice in climate policy and learn from successful debt relief initiatives. Join the movement and demand justice for a sustainable future #ClimateAction#DebtJustice#Sustainability#ClimateWeek

- the debt burden for countries most at risk to climate change has doubled since the COVID19 pandemic began - payments to external creditors rose <8% to 15.5% - unable to finance climate adaption due to high debt, countries often take on more debt to do so #ClimateCrisis #ClimateChange https://lnkd.in/e3PGyFPm

There is a continued faith in and adherence to the neoliberal ideology in macroeconomic policy making . The worst affected are the developing countries . They are subjected to debt distress, through crisis responses, to the Northern and especially US-centred international financial system. Let us remember the similarities to the past, especially the 1982 debt crisis that ushered in this paradigm. We may experience repeating the lost decades to development, and enhanced misery..

The punishing post-COVID wave of sovereign defaults has finally crested, with the likes of Ghana, Sri Lanka and Zambia concluding years of painful debt reworks. But the International Monetary Fund and others worry that a dangerous liquidity shortfall could take its place in many emerging economies - setting back development, stunting climate change mitigation and fuelling distrust in governments and Western institutions. https://lnkd.in/gC6T9fAS #poor #nations #default #wave #sovereign #defaults #rising #ghana #srilanka #zambia #concluding #painful #debt #reworks #imf #worries #dangerous #liquidityshortfall #taking #place #emergingeconomies #setting #back #development #stunting #climatechange #mitigation #fuelling #distrust #governments #western #institutions

Pacific Islands nations most at risk from rising seas should consider novel debt-for-nature deals as high debt levels across the region make traditional loans unsustainable, a senior International Monetary Fund official said on Tuesday. Debt-for-nature deals, where government borrowers swap loans for cheaper debt underpinned by credit guarantees from multilateral lenders and commit some of the savings to environmental conservation, are rare but growing. Read more on our site! #economy #imf #pacificislands

Eurobonds and the Solution to Lebanese’s Financial Crisis The word “Crisis” is almost the title of all issues related to the state in Lebanon, including public administrations and services. Public administration crises comprise civil registries, real estate departments, the Car and Vehicles Registration Department, and others. Public services include, but are not limited to, electricity, road maintenance, drinking water service, waste treatment, sewage, and many other crises. However, the most prominent crisis remains in public finance and debt, affecting all state departments and public services. In this context, issuing Lebanese treasury bonds in foreign currencies (Eurobonds) expresses the public debt crisis and makes it one of its more apparent manifestations. The Lebanese government has resorted to borrowing US dollars since 1994, following the growth in public debt due to the continued deficit in the 1993 budget. One reason for resorting to Eurobonds is the decline https://lnkd.in/gGr33NXi

Selling 4% of IMF's gold could provide debt relief to 86 countries: study https://zurl.co/Ssvw #GoldInvesting #SilverStacking #Gold #Silver #WealthPreservation #AlbertaGold #TorontoBullion #BullionInvestment #SafeHavenInvesting #AssetSecurity #StoreOfValueAssets

Africa’s debt crisis needs a bold new approach - https://lnkd.in/gaqqqA38 - By Daniel Bradlow It hasn’t been easy for African states to finance their developmental and environmental policy objectives over the past few years. Recent events suggest that the situation may be improving. For the first time in two years, three African states have been able to access international financial markets, albeit at