Easing Africa’s Debt Burden

Debt is a mounting problem across the African continent. Zambia, Ghana and Mali all have defaulted since the beginning of the pandemic, and in 24 nations the situation is “severe,” according to the UN. China has emerged as a major creditor. Even for countries with healthier economies, rising interest rates and the strong dollar are straining finances or putting debt capital out of reach. Now that the G20’s temporary relief program has expired, the need for action and multilateral coordination is urgent. Anne-Laure Kiechel, Founder and Chief Executive Officer, Global Sovereign Advisory, Nadia Fettah, Minister of Economy and Finances, Kingdom of Morocco, Abebe Aemro Selassie, Director of the African Department, International Monetary Fund, and Aminu Umar-Sadiq, Managing Director and Chief Executive Officer, Nigeria Sovereign Investment Authority discuss with Bloomberg’s Amogelang Mbatha.
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