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Defaulting on Development and Climate – Debt Sustainability and the Race for the 2030 Agenda and Paris Agreement

Time is running out to achieve the goals set out in the United Nations 2030 Agenda for Sustainable Development and the Paris Agreement.

Not meeting these goals will have tragic impacts on the lives of present and future generations; yet, emerging market and developing economies (EMDEs) are facing conditions that inhibit their ability to mobilize investment, including historic levels of external debt, higher interest rates and low growth prospects to 2030.

The Independent Expert Group to the Group of 20 (G20) estimates that EMDEs excluding China will need to mobilize $3 trillion annually, $1 trillion from external sources and $2 trillion domestically, by 2030 to achieve the 2030 Agenda and the Paris Agreement. […]