https://ipdcolumbia.org/wp-content/uploads/2025/06/Press-Release_ENG_FOR...
Chaired by Professor Joseph E. Stiglitz, the Jubilee Commission brought together global experts in debt, development, and the global financial system to address the current crises, prevent future crises, and promote sustainable development.
Their report — “A Blueprint for Tackling the Debt and Development Crises and Creating the Financial Foundations for a Sustainable People-Centered Global Economy” provides both an assessment of the current situation and a blueprint for reforming the international financial architecture to enable countries to achieve sustainable debt levels and scale up investment in healthcare, education, clean energy, and climate adaptation. (Originally announced through the Jubilee Commission Conference held on February 21, 2025).
The report presents a moral and practical vision: that global finance should serve people and the planet — not punish the poor to protect profits. Recommendations include: 1. Improve debt restructuring: Change multilateral institution policies and legislation in key jurisdictions (New York State and England) so that creditors and debtor governments are newly incentivized to agree to more timely and sustainable debt restructurings. 2. End bailouts to private creditors:
Multilateral institutions including the International Monetary Fund should change their policies and practices to support sustainable recoveries, not de facto bailouts of private creditors or crippling austerity. 3. Strengthen domestic policies: Developing countries should more extensively use capital account regulations to discourage destabilizing flows and create a more stable environment for long-term investments and should invest in structural transformation. 4. Enhance transparency: All should support financial policies that are transparent and have broad societal support. 5. Reimagine global finance: All should support a comprehensive change in global financing models to drive financing for sustainable development, including lending that supports long-term growth
