Sovereign Debt

The 77th session of the United Nations General Assembly was convened on September 13, 2022 to September 26, 2022. Even as the globe faces a polycrisis driven by the global slowdown, the war in Ukraine, shortages of energy, fertilizer and food, rising interest rates and debt levels, and climate change, the Global South’s leaders joined leaders from around the world to discuss these pressing development issues and work with the relevant global partners to find solutions to these challenges.

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

Sri Lanka’s debt restructuring process is burdened with several challenges. They include typical political and legal challenges, as well as evident geopolitical tensions and possible disruptive investment arbitration based on Sri Lanka’s BITs. Indeed, these atypical challenges will possibly make Sri Lanka’s debt restructuring process more complex and perhaps prolonged, leaving the country more vulnerable. Besides these challenges, debt restructuring might have immediate repercussions on the economy, such as difficulties in attracting foreign investors and losing access to international financial markets. Furthermore, although sovereign debt restructuring could bring the country’s distressed economy back to debt sustainability if appropriately managed, there is no guarantee that it will end the calamities of an insolvent nation grappling with several intertwined crises. Finally, Sri Lanka’s more daunting debt restructuring process will test the existing global financial infrastructure, questioning its adequacy to accommodate the current global economy’s challenges.

Welcome to the inaugural Sovereign Debt Academy convened by the African Sovereign Debt Justice Network (AfSDJN). AfSDJN is a coalition of citizens, scholars, civil society actors and church groups committed to exposing the adverse impact of unsustainable levels of African sovereign debt on the lives of ordinary citizens.

The African Sovereign Debt Network, (AfSDJN), is delighted to announce the winners of its Essay Competition on “National Legal Frameworks for Debt Contracting, Prudent Management and Accountability in Africa.” The winners of this competition have been invited by the African Forum and Network on Debt and Development (AFRODAD) to present their winning papers at the second African Conference on Debt and Development (AfCoDD II) from the 24th to 26th August 2022. Their papers will also be published on Afronomicslaw.org.

The conference will provide opportunities for deeper engagement in research and knowledge-exchange on matters pertinent to the resolution of debt on the continent. The plenary will explore themes at the nexus between corporate insolvency law and sovereign restructuring law towards identifying the barriers to transnational solutions to debt resolution for countries across Africa. It will also feature insights from the experiences of various emerging economies.

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.