VoxDev Development Economics
S6 Ep11: Is debt leading to the unsustainable exploitation of natural resources?
Mar 19, 2025
Pushpam Kumar, an expert from the UN Environment Programme, discusses how rising debt in low-income countries threatens crucial river basins like the Congo and Amazon. He highlights the alarming debt-to-natural capital ratio and its implications for livelihoods and biodiversity. The conversation emphasizes the urgent need for integrated economic-environmental policies and rethinking measurements of economic health beyond GDP. Kumar also explores debt-for-nature swaps as a potential solution for alleviating debt while fostering conservation.
29:45
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Quick takeaways
- Rising external debt in low-income countries threatens natural capital, highlighting the need for a shift in economic evaluation practices.
- Debt-for-nature swaps offer a viable solution for balancing financial obligations with environmental conservation, benefiting both ecosystems and livelihoods.
Deep dives
The Importance of Natural Capital
Natural capital, encompassing resources like forests, rivers, and biodiversity, plays a crucial role in supporting both livelihoods and ecological balance. The Congo, Amazon, and Mekong River basins exemplify this significance, as they provide essential services including carbon storage, clean water, and support for diverse species. Despite their vital contributions, the health of natural capital in these areas is declining due to factors such as urbanization and climate change. Understanding and preserving this natural wealth is essential, as it directly correlates to both environmental sustainability and the economic stability of the regions they support.
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