Launch of the Interim Report of the Expert Review on Debt, Nature and Climate

The Expert Review on Debt, Nature and Climate has been established by the governments of Colombia, Kenya, France and Germany to examine how sovereign debt can be made more sustainable, both fiscally and environmentally. Its Independent Expert Group is co-chaired bv Vera Songwe, former UN Assistant Secretary General, and Moritz Kraemer, former Chief Ratings Officer at S&P Global.

The Expert Review's Interim Report analyzes the 'vicious circle' by which increasingly frequent and severe environmental shocks are forcing many low and middle income countries to borrow more - at higher interest rates - to finance disaster response and recovery, while at the same time higher debt burdens reduce the fiscal space to pursue low-carbon, climate-resilient and nature-positive development. The report examines the critical role of the Debt Sustainability Frameworks (DSFs) used by the IMF and World Bank, and makes recommendations for their reform.

The Interim Report will be launched at two public events:

During the IMF/World Bank Annual Meetings in Washington DC:

Date: 24 October 2024

Time: 11.15 to 12.30 EST

Venue: The Inter-American Development Bank, 1300 New York Ave NW, Washington, DC 20577

Speakers:

• Vera Songwe, Co-Chair of the Independent Expert Group
• Moritz Kraemer, Co-Chair of the Independent Expert Group
• Avinash Persaud, Special Advisor on Climate Change to the President of the Inter-American Development Bank
• Allison Holland, Assistant Director, Strategy, Policy and Review Department, IMF
• Jennifer Morgan, State Secretary and Special Envoy for International Climate Action, Germany
• Shanti Bobin, Deputy Assistant Secretary of the Treasury, France

To attend this event, please register here.

At COP16 in Cali, Colombia:

Date: 28 October 2024

Time: 13:15 to 14:45 COT

Venue: Sierra Nevada Room, SW2, Blue Zone, COP16 CBD

Speakers:

• Susana Muhamad, Minister of Environment and Sustainable Development, Colombia
• Avinash Persaud, Special Advisor o the President of the Inter-American Development Bank, and member of the Independent Expert Group
• Heike Henn, Director for Climate, Energy and Environment, Ministry for Economic Cooperation and Development, Germany

This event does not need prior registration, but as it is within the Blue Zone you must have accreditation to attend COP16.

The Vicious Circle: The Interim Report of the Expert Review on Debt, Nature and Climate will be published on 24 October 2024 and will be available to download on this website.