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Navigating the Debt Crisis: Reforming the Common Framework for African Countries
In the wake of multiple shocks, growing global macroeconomic uncertainty, and a slowing global economy, many African countries are facing debt distress in 2025. African external debt is more than US$1 trillion in 2024 compared to more than $500 billion in 2020. Most Sub-Saharan African countries are facing an increase in debt vulnerabilities. According to the UN, globally, over two thirds of low-income countries (many of which are in Africa) are either in debt distress or at a high risk of it. This includes at least 22 African countries. […]