COUNTRIES PROMINENTLY vulnerable to climate change and the loss of natural biodiversity are often the ones least able to afford the investment to strengthen resilience. This is because of their debt burden. Gradually, these factors combine to put the affected countries in jeopardy; they face prolonged fiscal crisis, which forces them to rely on the mercy and the aid of the international community to stay afloat.
International organisations and multilateral development banks exercise multiple types of measures to help highly vulnerable countries survive financial catastrophes caused by climate change impacts. However, in the past decade, debt-for-climate swaps has grown relatively popular among low- and middle-income countries. Multilateral development banks and multilateral organisations such as the United Nations Development Programme (UNDP) have also been advocating this instrument as a debt-relief measure. According to an article by officials with the International Monetary Fund (IMF), debt-for-climate and debt-for nature swaps seek to free up fiscal resources so that governments can improve resilience without triggering a fiscal crisis or sacrificing spending on other development priorities.
この記事は Down To Earth の April 01, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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この記事は Down To Earth の April 01, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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