In 2025, sovereign-debt sustainability was largely a matter of luck, but in 2026, governments and creditors must adopt a more proactive framework that detects and tackles hidden vulnerabilities early and delivers restructuring agreements swiftly enough to provide real relief. Across Africa, debt restructuring continues to dominate the policy agenda. Swings of over $11 billion in the debt-service positions of Ethiopia and Ghana underscore why: With restructuring negotiations often lasting years, countries remain vulnerable to external shocks, and their resilience depends significantly on the currencies with which they operate. [...]