Developing Countries Need a New Approach to Long-Term Financing
Faced with prohibitive borrowing costs, many developing countries are unable to make the investments needed to reduce poverty and adapt to a rapidly warming planet. China’s ability to combine long-term investments and flexible short-term financing provides a useful model for mitigating the current debt crisis.
https://prosyn.org/CoH1UNm
LONDON/BEIJING – The world is in the midst of a financing crisis. As world leaders work to mobilize trillions of dollars to meet climate and development goals, expensive public debt is limiting governments’ ability to make long-term investments. A long-term framework for low-interest financing of global public goods is urgently needed.