Sovereign Debt

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.

This public event is hosted by Afronomicslaw.org – the leading forum on international economic law issues relating to Africa, and Open Society Policy Center. This hybrid event will be streamed live on YouTube, LinkedIn, Facebook, and Twitter handles of Afronomicslaw.org.

We reiterate our position that African countries did not take part in designing the current international financial architecture, embedded in their historical subjugation. Resultantly, as highlighted by the President of Ghana, Nana Akufo-Addo, it is “skewed significantly against developing and emerging economies” in favor of rich countries. A reform of the governance structure of the Bretton Woods institutions is required as a significant step towards recognizing African countries and citizens as rule makers in the re-design of the international financial and debt architecture.

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.