Covid-19 and Africa’s debt burden
In this Euromoney Livestream hosted by Euromoney’s Middle East and Africa editor, we discuss why the economic and health implications of Covid-19 have lead to calls for debt relief, what this might look like for Africa's recovery, and how debt management might look in the future.
Our guest speaker for this Euromoney LiveStream is Peter Sullivan, Public Sector Head for Africa at Citi.
Calls for debt relief in Africa have reignited concerns over the continent’s build-up of debt since the Heavily Indebted Poor Country rescheduling initiative in 1996. Freeing up fiscal space to enable African governments to fight the heath and economic crisis is essential but debt relief is complex.
We discuss the new initiative, how debt has accumulated over the past decade, how the composition of creditors has evolved and how African governments have managed public finances. Most importantly we look ahead to Africa’s recovery and at what change of behaviour from both borrowers and lenders is needed to improve Africa’s resilience and reduce its vulnerability to external shocks.