Debt Sustainability in Africa: State of Play and Future Challenges

Submitted by on Thu, 02/03/2022 - 01:37

Its 15 years since the previous debt reliefs were undertaken by the international community. Following the outbreak of the global COVID-19 pandemic, many African countries have either recently defaulted on their public debt, or subscribed to the Debt Service Suspension Initiative (DSSI) put in place by official lenders in 2020. Alternatively, other African countries are making progress toward a possible restructuring of their debt under the auspices of the G20 and of the Paris Club, but also of so-called “emerging” and private creditors. All of this seems to validate the widespread idea that there is a new debt crisis in Africa.