Debt Swaps Won’t Save Us: The Urgent Need for Debt Cancellation and Grant-Based Climate Finance

Debt swaps have been gaining attention as a proposed solution to address the intersecting crises of debt and climate change. However, these mechanisms are far from the silver bullet they are often presented to be. While they might offer temporary relief, debt swaps fall short in addressing the structural injustices underpinning the debt crisis and climate financing in the Global South. Worse, they pose risks that may perpetuate harm to vulnerable communities.

Download the Briefer

Explore our full analysis in the PDF below:
Debt Swaps Won’t Save Us – Briefing 2024

This briefer explains:

• The risks and limitations of debt swaps.
• Why debt cancellation and grant-based financing are critical.
• Policy recommendations for a just and effective response to the debt and climate crises.