This event will reflect on the multilateral and bi-lateral initiatives for debt cancellation, debt relief and debt restructure, as well as considering the importance of reducing capital migration.
Despite Africa having one of the lowest nominal debt levels internationally, the COVID-19 pandemic has contributed to pushing this debt to unsustainable levels. African countries spend roughly a quarter of their budgetary revenues to pay for their debt service, at a significant cost to spending on health and welfare. Levels of capital migration across the continent are also high but supporting the development of capital markets, including through regionalisation, will boost economic momentum.
At this event, panellists will discuss multilateral and bi-lateral initiatives for debt cancellation, debt relief and debt restructure. The event will reflect on the importance of reducing capital migration and consider what policy makers can do to address the unfavourable risk premium associated with the continent.
ORGANIZER: Chatham House