The Need for Debt-for-Climate Swaps
With developing countries facing a debt crisis that will only get worse as the COVID-19 pandemic continues, it is already inevitable that massive debt relief will be necessary. The only question is whether it will be designed to address the even larger climate crisis that is approaching.
About the Authors
Kevin P. Gallagher
Professor of Global Development Policy
Global Development Policy Center
Dr. Kevin P. Gallagher is an associate professor of international relations at Boston University, and senior researcher at the Global Development and Environment Institute at Tufts University. He specializes in global economic and development policy, with an emphasis on Latin America.
Professor Gallagher is the author of The Dragon in the Room: China and the Future of Latin American Industrialization (with Roberto Porzecanski), The Enclave Economy: Foreign Investment and Sustainable Development in Mexico's Silicon Valley (with Lyuba Zarsky), and Free Trade and the Environment: Mexico, NAFTA, and Beyond. He writes a monthly column on globalization and development for the The Guardian (UK) newspaper.
Professor Gallagher is also a research fellow at Boston University’s Frederick S. Pardee Center for the Study of the Longer-Range Future where he directs the Global Economic Governance Initiative. In 2010 he served on the US Department of State’s investment subcommittee of the Advisory Committee on International Economic Policy.
Financial Markets Program Director
Initiative for Policy Dialogue (IPD)
Stephany Griffith-Jones is an economist specialising in international finance and development, with emphasis on reform of the international and national financial system, especially in relation to financial regulation and global governance. She is Financial Markets Director at the Initiative for Policy Dialogue, Columbia University. Previously she was Professorial Fellow at the Institute of Development Studies at Sussex University. She was Director of International Finance at the Commonwealth Secretariat and worked at UN DESA and ECLAC. She was senior consultant to governments in Eastern Europe, Latin America and Africa and many international agencies, including the World Bank, the IADB, the European Commission, UNDP and UNCTAD. She was a member of the Warwick Commission on financial regulation. She currently is theme leader on finance in the ESRC /DFID growth programme for LICs, especially African ones. She has published over 20 books and many scholarly and journalistic articles. Her books include Time for the Visible Hand, Lessons from the 2008 crisis, edited jointly with José Antonio Ocampo and Joseph Stiglitz.