Rethinking Debt Solutions for Africa: Why the G20 Common Framework and the DSSI falls short

African nations are facing a debt crisis. The Debt Service Suspension Initiative aimed to provide relief amidst the Covid-19 pandemic; it merely postponed the underlying issues, leaving countries in a tighter fiscal space. The G20 Common Framework for debt treatment, has a slow and ineffective approach to restructuring. With only a handful of countries like Ghana, Zambia, Ethiopia, and Chad showing interest, we delve into the apprehensions surrounding this framework, including the potential negative impacts of austerity measures and macroeconomic reforms on the well-being of populations.

We advocate for a new system and solutions that provides African nations with greater voice, representation, and favorable conditions to manage their debt sustainably.

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