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The debt crisis won’t be solved by debt relief alone. Developing countries need a growth reset
Developing countries need coordinated financing to invest and grow—not just enough support to keep paying creditors.
Leaders like President Mahama of Ghana are building the architecture for a new kind of cooperation – a global reset anchored in country-led growth powered by domestic resources and private investment. On its face, however, this inspirational message seems in sharp contrast to economic reality. More than half of developing countries face liquidity and financing challenges that are making it difficult to finance basic expenditures, let alone the investment needed for growth. As global borrowing costs soar, the current crisis of fiscal space and affordable…
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