Tag: debt restructure
Related Posts
African Leaders Plead For Faster Debt Relief at International Summit
Kenyan President Uhuru Kenyatta used his opening speech at a virtual leaders summit of the Organization of the African, Caribbean and Pacific States (OACPS) to plead for more debt relief, particularly for the world's poorest countries. "The debt of many member states continues to rise. ...
Once Angola Renegotiates its Debts, There May Not be Much Money Left Over For Anything Else
Nathan Hayes, an Africa analyst at the Economist Intelligence Unit in London, highlights Angola's dilemma in the ongoing talks to restructure its debts. With the price of oil so low due to the global economic slowdown brought on by the COVID-19 outbreak, pretty much the only choice ...
Debt Relief in Africa: A Conversation With Renaissance Capital’s Charlie Robertson
Ethiopian Prime Minister Abiy Mohamed was among the first African leaders to issue an urgent appeal for debt relief back in March even before COVID-19 had become a serious public health issue on the continent.“COVID-19 poses an existential threat to the ...
How is China Going to Approach the Debt Crisis in Africa?
One of the big questions around the burgeoning debt crisis in Africa is how will China respond? With an estimated $152 billion of outstanding loans on the continent, Beijing is by far the continent's largest bilateral creditor. No discussion ...
African Development Bank President: “It’s Not Fair”:
People like World Bank President David Malpass and AfDB head Dr. Akinwumi Adesina are surprisingly upbeat about the prospect of finding a solution to Africa's worsening debt crisis. Maybe they have to because it's their job, but the reality is that their ...
African Leaders Criticize Wealthy Countries For Lack of Progress on Debt Relief
Five African presidents, from Kenya, Ivory Coast, Sierra Leone, Senegal, and Niger, decried the lack of meaningful progress by wealthy industrial countries on debt relief and financial assistance to the continent amid the worsening COVID-19 outbreak. The leaders took part in a ...
Deborah Brautigam: Don’t Expect China to Cancel Africa’s Debts, They’ll Probably Just Reschedule Them
So long as there's no official word from the Chinese government as to how they specifically plan to address the $150 billion of outstanding debts that African governments owe Bejing, everyone's speculating as to how they'll likely proceed. Professor Deborah Brautigam, ...
Kenya’s Dilemma: If It Wants G20 Relief Then It Can’t Issue More Bonds or Take out More Loans. So How Does It Close a Gaping Budget Deficit?
Kenya, and likely many other African countries, is in a bit of a pinch right now: it desperately needs to raise money to close an estimated $7.7 billion budget deficit. But if the Treasury wants to remain qualified for G20 debt relief then it can't go out ...
African Finance and Development Ministers Meet With Private Creditors to Try and Reach a Debt Suspension Deal
At least a dozen African finance ministers, along with several development ministers, spoke via video conference with more than 100 private creditors on Monday as part of an effort to reach a consensus over suspending some or all of the repayments to bondholders and other investors.
South Africa’s President Doesn’t Just Want a 9-Month Debt Reprieve. He’s Now Calling For a Two-Year “Standstill”
South African President Cyril Ramaphosa called on G20 countries and other international creditors to extend a proposed debt repayment moratorium from nine-months to two years. The president issued the appeal on Friday during a virtual summit of African leaders that he convened in his capacity as chairperson ...
While There’s an Emerging Consensus on Chinese and Other Bilateral/Multilateral African Debt Relief, Dealing With Private Creditors is Going to be a Lot More Difficult
So much of the current discussion surrounding African debt relief focuses on the role of China and the traditional multilateral lenders like the World Bank and the IMF. While there's no doubt these entities play an important role in this issue, the fact that African governments have ...
Uganda President Museveni Subtly Blames “Asia” For COVID-19 and Now Wants All African Debt Cancelled in Return
Uganda’s President Yoweri Museveni said in a speech this week that because the COVID-19 outbreak is not the fault of his or any African country that the continent's international creditors should in turn help by canceling all of its debts. “The ...