{"id":251879,"date":"2023-04-09T12:31:21","date_gmt":"2023-04-09T10:31:21","guid":{"rendered":"https:\/\/climatescience.press\/?p=251879"},"modified":"2023-04-09T12:32:56","modified_gmt":"2023-04-09T10:32:56","slug":"boston-university-forgive-third-world-debt-to-advance-climate-goals-watts-up-with-that","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=251879","title":{"rendered":"Boston University: Forgive Third World Debt to Advance Climate Goals"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From Watts Up With That?<\/a><\/p>\n\n\n\n

Essay by Eric Worrall<\/strong><\/p>\n\n\n\n

h\/t neo<\/a>; According to Boston University, banks need to forgive the national debts of nations run by corrupt despots, to advance climate and development goals.<\/p>\n\n\n\n

\n

Up to $520bln in debt write-offs needed for emerging nations\u2019 climate goals<\/strong><\/p>\n\n\n\n

Story by By Libby George<\/p>\n\n\n\n

LONDON (Reuters) \u2013 Up to $520 billion in debt needs to be written off to help developing nations at greatest risk of default return to a sounder fiscal footing and meet climate and development goals, according to a Boston University report released on Thursday.<\/p>\n\n\n\n

The haircuts on debt owed to public and private creditors by 61 of the nations that are already in or are at most risk of debt distress are essential to avoid \u201ccascading defaults,\u201d according to calculations from the Boston University Global Development Policy Center and the Debt Relief for a Green and Inclusive Recovery (DRGR) Project.<\/p>\n\n\n\n

\u201cWithout ambitious debt relief, many of the poorest countries don\u2019t have a chance,\u201d said Kevin P. Gallagher, DRGR project co-chair and director of the Boston University Global Development Policy Center.<\/p>\n\n\n\n

\u2026Read more: https:\/\/www.msn.com\/en-us\/money\/companies\/up-to-520bln-in-debt-write-offs-needed-for-emerging-nations-climate-goals\/ar-AA19xIHf<\/a><\/p>\n<\/blockquote>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Those poor despots. Should we forgive their debts, so they can show they have learned by their mistakes, and they will absolutely promise not to spend the money on palaces, new luxury automobiles, mistresses, and funding Uranium enrichment facilities for peaceful purposes?<\/p>\n\n\n\n

Here\u2019s a radical alternative idea. Perhaps nations in debt distress should pay down their debts. That way they would have enough of their own cash, to spend on national development or climate action.<\/p>\n\n\n\n

A good start might be to get rid of the corrupt despots who ran up the debts in the first place.<\/p>\n","protected":false},"excerpt":{"rendered":"

A good start might be to get rid of the corrupt despots who ran up the debts in the first place.<\/p>\n","protected":false},"author":121246920,"featured_media":251883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691818164,691818165],"class_list":["post-251879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-climate-goals","tag-corrupt-depots","fallback-thumbnail"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/04\/0-The-Dictator.jpeg?fit=1920%2C1080&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-13wz","jetpack-related-posts":[{"id":413781,"url":"https:\/\/climatescience.press\/?p=413781","url_meta":{"origin":251879,"position":0},"title":"Reuters: \u201cThey [China] will lose\u201d if the World Retreats from Renewable Energy","author":"uwe.roland.gross","date":"11\/18\/2025","format":false,"excerpt":"\u201c\u2026 China is acting as a guarantor \u2026 They invested a lot on the green economy. 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