Developed-country debt draining international market liquidity – NDB president
Enacting the just transition in emerging markets and developing countries (EMDCs) requires “a huge amount of resources and long-term financing”, says New Development Bank (NDB) president Dilma Rousseff, who is also the former President of Brazil. Mobilising more investment for sustainable development, however, seems unlikely without tackling the issue of indebtedness first, she notes, and, more particularly, the indebtedness of developed countries.