Rich and cruel western countries shift climate pain onto poor countries using high-interest debt

–China acts honorably, EU and US does not (corrected sentence — combination Kenewendo/CarrZee view)

Botswana’s Bogolo Kenewendo says at New York Climate Week that debt and high interest rates are making climate disasters much worse for countries that have not caused the heating problem.

Project Syndicate snip…watch and listen

Wikipedia snip: Bogolo Joy Kenewendo (born c. 1987) is a Botswanan economist and politician. She is the former Cabinet Minister of Investment, Trade and Industry of Botswana.^[1][2][3] Kenewendo was dropped from cabinet in November 2019. Since then, she serves as the Managing Director of Kenewendo Advisory, based in Gaborone, Botswana.^[4] She leads Molaya Kgosi Women Leadership and Mentorship Program and the Board Chair of Molaya Kgosi Trust.^[5][3] In June 2022, Kenewendo was appointed as Special Advisor and Africa Director to the United Nations Climate Change High-Level Champions

Key quote

“We find that a lot of African countries and EMD (emerging-market debt) countries are actually paying for their resilience and adaptation from the national budgets that are financed by debt. We can always say we know that they are financing this climate issue which they did not cause. And I know every time we bring this statement, (rich and cruel) people say, ‘Yeah, but we’ve read this before. We should lose this statement because it is exhausting. But it is the reality'”

Sky-high costs of capital mired in spiralling debt crises stoke climate crisis: UNFCCC (1)