2023-10-19 13:53:29
Joseph Stilitz, in Cernobbio, Italy, in 2023. © Nicola Marfisi/AGF/SIPA.
Published on October 19, 2023
Lecture : 4 minutes.
“Too little debt restructuring, too late.” The observation of Nobel Prize for Economics is final. ” We do not have of framework for debt restructuring of States sovereigns,” explained Joseph Stiglitz, guest of the Columbia Global Centers the October 16, in Paris.
Why would we expect a dysfunctional financial market to do a good job of financing a global public good like climate?
He deplored the absence of mechanisms which hampers the prospects for viable public finances in Africa, and those of a contribution to the transition to clean energy. The difficulty of coordination between various creditors, including China et Western hedge funds that “don’t trust anyone else”, makes debt restructuring more difficult, does he have precise.
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