Shared Responses, Shared Responsibility: Reinforcing Responsible Sovereign Financing Practices
This essay will harmonize perspectives on responsible sovereign borrowing, re-emphasising the importance of shared responsibilities. It will commence by briefly examining the United Nations Conference on Trade and Development (UNCTAD) Principles on Promoting Responsible Sovereign Lending and Borrowing (“the UNCTAD Principles”) and the Addis Ababa Action Agenda (“the Agenda”). Additionally, the United Nations Department of Economic and Social Affairs (UN DESA) proposals on sustainable and responsible borrowing and lending and debt crisis prevention will be appraised. This analysis will consider the applicability of these principles within the specific context of African countries, considering economic, political, and social realities.