How far can a 'debt-for-nature' deal go?

It’s a perpetual conundrum for countries, particularly across Africa, caught in the climate change crossfire: how to finance energy transition when debts need to be paid off?Speaking to Jaysim Hanspal on the sidelines of the AU summit,“We insist that the IMF, the World Bank and all the multilateral lenders must be redesigned, or altogether, we must have a different financial system that responds to our situation.

He’s supportive of a call by Senegal’s President Macky Sall and UN head Antonio Guterres for a cancellation of Africa’s deepening debt.Portugal and Cabo Verde have entered into such a ‘debt-for-nature’ deal. “This is a new seed that we sow in our future cooperation,” said the Portuguese Prime Minister Antonio Costa.

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