The COVID-19 pandemic has decimated government fiscal policies across the globe, and economies worldwide are heading into historic recessions.
Countries’ capabilities to address new challenges are increasingly stretched, yet efforts to tackle a health crisis in a globalised world remain highly interconnected. As low-income countries struggle to provide robust spending plans to support the population, calls have risen for the implementation of immediate debt relief from bilateral, multilateral and private creditors to African countries. Africa’s external debt payments have almost doubled in recent years, forming the backdrop of a reoccurring conversation around the debt’s sustainability at a time when money is urgently needed for domestic investments. Now the COVID-19 pandemic makes this discussion more urgent than ever.
ORGANIZER: London School of Economics - Firoz Lalji Centre for Africa