As host of the G20 summit last weekend, Indian prime minister Narendra Modi was right to highlight the importance of debt relief.
But he and other G20 leaders could have done more to recognise how economic reliance on fossil fuels has made debt crises worse.
National debt burdens have reached catastrophic levels in over 50 countries. Sri Lanka, Ghana, Zambia and Pakistan are already restructuring their debt or negotiating bailouts to save their economies.
The current debt crisis did not emerge because governments mismanaged public finances.
Why India is rebuffing a coal-to-clean deal with rich nations
Most developing countries have been forced into borrowing by external shocks: the Covid-19 pandemic, soaring energy and food prices, and…
Read the full article at: https://climatechangenews.com/2023/09/13/debt-relief-must-break-dependence-on-fossil-fuel-exports/