#COP29 #PayUpforClimateFinance #Aid #FfD4 #EurodadIC25

The conclusion of the ongoing negotiations for the post-2025 climate goal is top of the agenda at COP29 this week in Baku, Azerbaijan. Civil society is calling on global north leaders to deliver a binding commitment, strive to re-establish trust, and recognise the owed climate debt to the global south.

Debt swaps for climate and conservation goals have experienced a resurgence in recent years. As COP29 negotiations kick off, they are presented as a dual solution for debt and climate issues, however they fall short in practice and pose risks that threaten to harm global south countries and communities. This briefing explains why instead of debt swaps, we need urgent debt cancellation and grant-based climate finance.

#CancelTheDebt #WBmeetings #IMFmeetings #FfD4 #EurodadIC25

This week's Annual Meetings of the International Monetary Fund (IMF) and World Bank - during which the institutions have marked their 80th anniversary - has ended in an anticlimax.

This week G20 finance ministers, the IMF and the World Bank have again failed to take any meaningful action to deal with the deepening global debt crisis, continuing to term it ‘short-term liquidity challenges’.

• Call comes as IMF and G20 fail to take action despite worst ever debt crisis in the global south
• New paper published today calls on world leaders to focus on discussing reforms at UN Financing for Development process 

Amidst a new global south debt crisis, the debt architecture reform agenda cannot wait any longer. The Fourth UN International Financing for Development Conference (FfD4) is a key milestone to open an intergovernmental process towards the debt architecture reform that global south countries need.

#CancelTheDebt #AMCSO24 #IMFmeetings #FfD4 #EurodadIC25