New Trade idea for South Africa is debt relief for climate goals

Politicians and academics are turning their attention to a new trade pitch for South Africa: debt relief in exchange for progress toward global climate goals. The debt-for-climate concept, which was floated by International Monetary Fund MD Kristalina Georgieva in April, has been picked up by South African Deputy Finance Minister David Masondo and the South African Communist Party, which is part of the country’s ruling coalition. The IMF plans to raise the idea at the COP26 climate conference in Glasgow in November.