Transforming Debt into Opportunity: A Plan for Renewed Growth and Investment

The Rockefeller Foundation has highlighted a looming crisis for around 40 low- and lower-middle-income countries as they face a convergence of wavering cash flow and rising borrowing costs due to Covid-era debts. The foundation proposes a “Growth and Investment Reset,” which calls for an influx of long-term, affordable financing from the IMF and World Bank, coupled with a G20 commitment to halt withdrawals of funds. This initiative seeks to support countries that undertake ambitious investment and reform plans, aiming to prevent a potential insolvency crisis. The framework was developed with contributions from various organizations and experts, emphasizing a collaborative approach to address the financial challenges these nations face.