#Economic Relief

[reasonsforhope]

One country in the [climate-change] firing line is Cape Verde. The West African island nation, where 80% of the population lives on the coast, is already feeling the brunt of rising sea levels and increasing ocean acidity on its infrastructure, tourism, biodiversity and fisheries.

The country desperately needs to both mitigate and adapt to these problems, but – as with many Global South countries at present – simply lacks the budget to do it: Cape Verde’s debt reached an all-time high of 157% of GDP in 2021.

In a bid to address both issues simultaneously, the country has signed a novel agreement with Portugal to swap some of its debt for investments into an environmental and climate fund. The former Portuguese colony owes the Portuguese state €140m ($148m) and Portuguese banks €400m.

On a state visit to Cape Verde on 23 January, Portuguese Prime Minister António Costa announced the debt would be put towards Cape Verde’s energy transition and fight against climate change. Costa earmarked projects involving energy efficiency, renewable energy and green hydrogen as possible targets for the fund.

“This is a new seed that we sow in our future cooperation,” said Costa. “Climate change is a challenge that takes place on a global scale and no country will be sustainable if all countries are not sustainable.”

“Debt-for-climate swaps” allow countries to reduce their debt obligations in exchange for a commitment to finance domestic climate and nature projects with the freed-up financial resources. The concept has been knocking about since the 1980s, typically geared at nature conservation. However, after recent deals for Barbados, Belize and the Seychelles, and huge $800m and $1bn agreements in the offing for Ecuador and Sri Lanka, is this financial instrument finally coming of age?

How It Works

Debt-for-climate swaps typically follow a formula. First, a creditor [here, a group or government that money is owed to] agrees to reduce debt, either by converting it into local currency, lowering the interest rate, writing off some of the debt, or a combination of all three. The debtor will then use the saved money for initiatives aimed at increasing climate resilience, lowering greenhouse gas emissions or protecting biodiversity.

The original 'debt-for-nature swaps' began as small, trilateral deals, with NGOs buying sovereign debt owed to commercial banks to redirect payments towards nature projects. They have since evolved into larger, bilateral deals between creditors and debtors...

Debt-for-climate swaps free up fiscal resources so governments can improve resilience and transition to a low-carbon economy without causing a fiscal crisis or sacrificing spending on other development priorities. [These swaps] can create additional revenue for countries with valuable biodiversity or carbon sinks by allowing them to charge others to protect those assets, thereby providing a global public good.

Swaps can even result in an upgrade to a country’s sovereign credit rating, as was the case in Belize, which makes government borrowing cheaper [and improves the country's economy.]

Right now, these [swaps] are needed more than ever, with low-income countries dealing with multiple crises that have put huge pressure on public debt...

Debt-for-climate swaps: “Increasing in size and scale”

Although debt-for-climate swaps are not new, until recently the amount of finance raised globally from the instrument has been modest – just $1bn between 1987 and 2003, according to one OECD study. Just three of the 140 swaps over the past 35 years have had a value of more than $250m, according to the African Development Bank. The average size was a mere $26.6m.

However, the market has steadily picked up pace over the past two decades... In 2016, the government of the Seychelles signed a landmark agreement with developed nation creditor group the Paris Club, supported by NGO The Nature Conservancy (TNC), for a $22m investment in marine conservation.

The government of Belize followed suit in 2021 by issuing a $364m blue bond – a debt instrument to finance marine and ocean-focused sustainability projects – to buy back $550m of commercial debt to use for marine conservation and debt sustainability.

Then, last year, Barbados completed a $150m transaction, supported by the TNC and the Inter-American Development Bank, allowing the country to reduce its borrowing costs and use savings to finance marine conservation.

“Two or three years ago, we were talking about $50m deals,” says Widge. “Now they have gone to $250–300m, so they are definitely increasing in size and scale.”

Indeed, the success of the deals for the Seychelles, Belize and Barbados, along with the debt distress sweeping across the Global South, has sparked an uptick of interest in the model.

Ecuador is reported to be in negotiations with banks and a non-profit for an $800m deal, and Sri Lanka is discussing a $1bn transaction – which would be the biggest swap to date."

-via Energy Monitor, 2/1/23

Note: I'm leaving out my massive rant about how the vast majority of this debt is due to the damages of colonialism. And also countries being forced to "PAY BACK" COLONIZERS FOR THEIR OWN FREEDOM for decades or in some cases centuries (particularly infuriating example: Haiti). Debt-for-climate swaps are good news, and one way to help right this massive historic and ongoing economic wrong

#climate change #developing countries #economics #debt for climate #debt relief #cape verde #barbados #seychelles #ecuador #sri lanka #portugal #belize #global south #conservation #biodiversity #good news #hope #international politics

[dailylowqualitycats]

Day 199

Cat in crippling debt

His name is Ben

#poorly drawn cats #low quality #cats of tumblr #daily cats #cute cats #artists on tumblr #cats #funny cats #cat #orange cat #debt #debt recovery #debt relief #taxes #economics #financial #money #battle for bfdi #bfdi #tpot #bfb #bfdi reference #ben #pen #crippling debt #i’m in crippling debt #im in debt

[somethingusefulfromflorida]

[Originally posted April 27, 2022]

Biden has signaled that he may be open to considering the idea of canceling some student loan debt, and Republicans on twitter are freaking out like he just declared himself Chairman and is coming to kill all the capitalists.

They're bending over backwards to say that canceling student loan debt is a bad thing. They say that only idiots and liberals have debts, that it's entirely their fault and the debt is deserved, that they shouldn't have to foot the bill for other people going to college, but they fundamentally misunderstand how anything works. Conservative kids go to school too, you know. Republicans aren't all high school drop outs. They have debts, and stand to gain from this just as much as anyone else. The media is saying that canceling debts would give another break to rich people, but rich people don't have student loan debts because they can afford to pay out of pocket. Everyone I know who has debt is dirt poor, so the idea that debt relief is a scam to bail out irresponsible rich kids is bullshit.

And speaking of bailouts, people seem to forget that you don't get to pick and choose what your tax dollars pay for; you don't want to pay for someone else's student loan debts, but you already have to pay for every corporate bailout and subsidy. Every time some trillion dollar company gets a tax break, you foot the bill. Trickle down economics has been funneling money from the bottom to the top for forty years; reverse Robin Hood, the rich steal from the poor. Your tax dollars pad executive pockets, and you're mad that poor people might start to suffer less? I'm sorry if you're a libertarian who thinks all tax is theft, but that's how society works! You pay taxes, you get benefits; the more you pay in taxes, the less you pay to private businesses.

Well, in most countries.

In the United States you pay higher taxes and get nothing in return; no healthcare, no public utilities, no transit, nada. We're so used to going without that as soon as anyone proposes sensible reforms, all the right-wingers shit their pants in fear and calls it communism. Other countries have nice things, so why can't we? If we pay a little bit more in taxes, we pay a LOT LESS in education and healthcare. It's an algebra problem; < or >, which side is bigger? If everyone pools their resources, people can take what they need when they need it, so nobody has to go broke; if you're unwilling to help your community, your statesmen, your countrymen, then you don't deserve the benefits either.

There's an anti-intelectual talking point that college is exclusively for liberal elites, or that it's a leftist snowflake factory that turns hard working red blooded Americans into woke gender-neutral pansies; if that's the case, then why do any Republican politicians go to college? If college is brainwashing, then why are so many senators Ivy League graduates? If going to college changes you and makes you believe something you don't believe, then how did any of them make it out of there even more conservative than before? If you say that they were strong willed and able to reject the brainwashing, then you're admitting that brainwashing doesn't work; and if you counter by saying that it does work but only on weak minded fools and that Republicans are just better at ignoring it, then you're calling yourself a weak minded fool because you're afraid you'd succumb to it! Why do you hold your leaders to a higher standard than yourself? Why do you keep making exceptions for them? "This is a bad thing, unless they do it, then it's okay!" Why do you think they're better than you?

Education isn't a taboo.

Intelligence is not a vice.

Ignorance is not a virtue.

College should be accessible to everyone who wants to attend, and it shouldn't be seen as an indoctrination machine because it very clearly isn't. Student loan debt cancelation isn't some unearned reward for leftists. It isn't bribery ahead of the midterms. It isn't a punishment for uneducated people to pick up the slack. It is the leveling of a playing field that has been lopsided for too long. If good jobs require degrees, then everybody should be able to get a degree without 5 or 6 figures of debt weighing them down. That's a bullshit catch-22; you need to pay a ton of money for the chance to earn more money. Debt cancelation eliminates that hurdle. If you think that you should only go to college if you can afford it outright, then you're saying that only rich elites deserve good jobs; which is it? Do you hate rich elites, or do you want them in charge of everything? Pick a lane, and stay in it!

TLDR: student loan relief benefits everyone at the bottom, regardless of ideology. They would rather have us fight a culture war against one another than unite to fight a class war against them.

#student loans #student loan debt #student debt #debt #loans #loan debt #debt cancellation #debt forgiveness #debt relief #student loan debt relief #joe biden #biden #college #university #long post #trickle down economics #trickle down #class war #culture war #rant

[clericofmystra]

The party got to the dank crypt (...sounds delightful) and Larissa earnestly tried to persuade the looters to go away because it's dangerous around here (there were intimidate and deception options, but neither is really her) and succeeded, lol, so they just ... went away.

After the fight against the other looters, we got a little detail I got a kick out of—your reaction as you explore is slightly different if you're a cleric.

Larissa:

[I feel a presence here - a power. The patron god of this place?]

Shadowheart:

[Whoever that even is. No intact symbols here, no dedications - nothing.]

It's a small thing, but I enjoy the clerical talking shop moment!

#t: the sacred text posts #p: screenshots #ch: tav called larissa #ch: stow that blade or i'll show you just how messy things can get #bg3 spoilers #i still haven't long rested so i'm definitely making economical use of my spell slots #so it was a relief that the looters just left even if it's less xp #also i have three inspiration burning a hole in my pocket but i've succeeded on almost everything #and i'm about to get three more iirc so... at least making up the xp?

[factcheckdotorg]

#dodd-frank #donald trump #signature bank #silicon valley bank #Economic Growth Regulatory Relief and Consumer Protection Act

[tybutler]

Do you know you can get free government money if you had a business during the pandemic? Click here and find out more. You don't have to pay no money and if you don't get paid we don't get paid:

#free government money #government grants #government subsidies #ertc assist #entrepreneur tax credit #taxes and taxation #pandemic #relief #financial assistance programs #money for business #covid business relief #entrepreneur government programs #government stimulas relief #tax subsides #free money for business #business recovery funds #economic stimulus package #business support services (nec)

[tomorrowusa]

Trump Republicans always have a spare trillion or two for their wealthy oligarch contributors. But heaven forbid that we should improve the skills of the American workforce by raising its education level.

#student debt forgiveness #joe biden #biden administration #higher education #economic relief for middle class #colleges and universities #trump republicans #tax breaks for the filthy rich #hypocrisy #maga oligarchs #mike luckovich

[autisticlaezel]

Not very pleased with the amount of self-identified progressives and leftists who act like Adam Kinzinger and Liz Cheney are heroes and "good" Republicans simply for opposing Trump lmao

#they both voted against expanding voter's rights just last year #they both voted against economic relief in response to covid #they both voted against the equality act #kinzinger voted against the women's health protection act #these are minor examples and just from 2021 lmao #same vibes as when everyone suddenly forgot how fucking terrifying romney is because he criticized trump #charlie.txt

[stil-lindigo]

I am so sorry to bother you with this stupid question, but Bisan has asked for a complete stop in economic activity. Can I still donate to help Palestinians or is it better to avoid any transactions for the week ? Thank you so much for what you're doing

hello anon. don't apologise, you're a breath of fresh air after the recent visitors in my inbox. I think a slightly more accurate description of Bisan’s ask is to stop or minimise all economic activity not in direct support of Palestine. Now more than ever, I would encourage people to donate to escape funds for Palestinians, to direct aid organisations like CareforGaza and the PCRF, and to buy e-sims as they’re running low.

Below I’ve compiled a list of resources below but this is definitely just a small sample size of what you can do to help during this strike. This post here is an extremely comprehensive resource that I’d recommend you have a look at.

credible organisations that are doing work on the ground in Palestine:

Care for Gaza:non-profit charity that distributes money, food and other resources directly to families in Gaza.They maintain a regular presence on Twitter and Instagram. You can donate to them via Paypal here.

PCRF / Palestine Children's Relief Fund: non-profit organisation that distributes essential food and resources to families in Gaza. Most recently, they delivered 30 tons of vital medicine, and 82,000 pounds of flour.

Medical Aid For Palestinians: deploys medical teams to treat Palestinians suffering under Israel's malicious bombardments.

Donate e-sims to Palestine: massive post with tutorials and relevant links, with discount codes included in the post and in the replies.

help people leave palestine (donate what you can)

Help a Family Evacuate Gaza (GoGetFunding)

Save Sanaa and her Family (Gofundme)

Save Amjad Saher and his family (Gofundme)

Help a family of 13 escape Gaza (Gofundme)

Help a Palestinian children's book illustrator save her family of 12 (Gofundme)

#donate what you can!!! #there are fandoms on here that have forked up truly lifechanging amounts of money for things significantly less important than this #so give generously #<3 #palestine #free palestine #free west bank #free gaza

[economed]

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Plus, being autoclavable, you can trust in its cleanliness, ensuring exceptional performance with every use.🔬

Contact us for any inquiries or to place your order📲, visit: https://www.economed.co.uk/products/elodur-forte-6cm 

#economed #bandages #cotton #fabric #stretch #capacity #relief #sports #washes #cleanliness

[samafricanreporter]

We are a South African Christian charity founded in 2011, motivated by compassion and social well-being i.e. medical, education and bursary support, food and shelter assistance, disaster relief, and all other activities beneficial to the public interest and or common good through raising of funds, the formation of long- and short-term partnerships and solicitation of sponsorships. Pastor Alph Lukau.

AL Foundation went down to Durban, KwaZulu-Natal to give much needed donations to the victims of the floods. The donations were received by the Mayor of eThekwini.

Our country, like the rest of the world is grappling with the effects of the Covid19 pandemic which saw the President of the Republic of South Africa announcing a complete economic and social lockdown of the country on the 26th March to date with gradual levels but still with tight regulations. Pastor Alph Lukau

#AL #Foundation #Covid #Relief #April #2020 #Sponsorships #Pastor #Alph #Lukau #KwaZulu-Natal #Mayor #eThekwini #Economic #Social #Lockdown #Covid19 #Tight #Regulations

[fastlane-freedom]

The Silent Struggle: Understanding & Overcoming Financial Stress

Financial stress is a pervasive issue that affects millions of people around the world. It’s a silent struggle that often goes unnoticed, but its impact on individuals, families, and society as a whole can be profound. In this blog, we will explore the causes of financial stress, its consequences, and most importantly, strategies to understand and overcome it. Financial stress is more than just…

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#anxiety relief #coping with financial stress #debt management #economic wellness #emotional well-being #family finances #financial abundance #financial advice #financial literacy #financial planning #financial stress #money management #money worries #overcoming stress #relationship strain #silent struggle #support networks

[latestnewschronicle]

Biden's Student Loan Forgiveness Revolution: Dive into the SAVE Plan

Discover the latest on Biden Student Loans! Uncover the revolutionary SAVE repayment plan, cutting your burden by HALF. Say goodbye to financial stress as the Biden administration grants loan forgiveness to millions.

Act now to secure benefits before October! Over $116.6 billion forgiven already, with more to come. The administration’s unwavering commitment shines through. But hurdles persist — Supreme Court, challenges, opposition. Biden fights on for student debt relief.

Don’t miss out on these transformative updates. The path to lighter student loans is clearer than ever. Learn more now about Biden Student Loan news!

Also Read: Kinfolk Home Loans: A Customer-Centric Alternative to Woke Banks

#biden student loan #biden student loan debt relief #biden student loan forgiveness #biden student loans #student loan forgiveness biden #economic insider #latest news #trending news #usa

[amaliasnap]

A few months ago I assured my older gen x friend that they definitely wouldn't go through with the college debt relief.

He was bitter but felt guilty over it, in that he had paid off his student loans, as they were much cheaper then.

He talked about how he knew it would be better for the economy, but it still stung a little bit, since his parents didn't even have to take out loans to go to college since it was just affordable for the boomers.

He said he felt bad for resenting it.

I told him, "here is your nasty consolation prize. They aren't gonna do that debt relief. So actually, you are going to be in the group of people where it was feasible to pay it off, and not in the group of people who paid it off for no reason. Those people won't exist."

And I was serious, but I wasn't sure I was gonna be right. I hoped I was wrong.

These are some economic reasons they won't ever do it, though:

If they give debt relief to college students they have to admit college costs too much and it is a huge industry that makes, [gasp] money for investors

Money that only benefits the very wealthy.

If they give debt relief than they will have to reduce the price of college and administrators will have less money to embezzle (this happened when I was in grad school. The pres got a slap on the wrist and was put in a tenured professorship position teaching... [Dramatic pause....] business ethics!

If they give debt relief than we can't keep people in indentured servitude to qualify for a position that pays just slightly above minimum wage.

If they have to respond by lowering the price of college than we can't afford to exploit college athletes for the four years before they have human rights and ability to negotiate contracts as an adult. God forbid the gambling industry take a hit!

Anyone can correct me on these details. I was only in college twice.

All of those things would improve the life of college students and our future work force, but not the moneyed interests who care about tuition prices, even in state colleges, where our taxes are supposedly paying for this shit.

So the poor, the rural working poor, the urban working poor, the minorities, the working class in general, would all benefit, even if they never went to college. Just because the economy would be better.

Because if your neighbors are all doing slightly better than you will do better, too.

Reverse of the trickle down effect. Which clearly doesn't exist. But the new deal worked somehow in the 1930s.

And it was just our goddamn supreme court that stood in the way.

I mean, if you aren't rich, just vote against the Republicans no matter who the Democrats run. Even if they flub debates and shit, and you liked another candidate better.

Bc the conservatives keep packing the supreme court with activist judges while throwing all the accusations at the Democrats.

"doth protest too much, sir" I say to them.

Pathetic.

#debt relief #college #supreme court #economics #economy #late capitalism #capitalism #class struggle

[thecontentlibrary32]

What are some of the benefits of arts and entertainment?

Arts and entertainment are the lively threads that weave together cultural identity, emotional expression, and intellectual development in the complex tapestry of human existence. These artistic manifestations have the capacity to profoundly enrich our lives and contribute to the wellbeing of both people and society as a whole, in addition to serving as times of relaxation and enjoyment. We set…

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#Arts and community #Arts and creativity #Arts and economics #Arts and education #Arts and mental health #Arts and problem-solving #Arts and social skills #Arts and stress relief #Arts and well-being