Africa’s Debt Burden and the Need for Global Financial Reform

In this episode of The Horn, Alan is joined by Hannah Ryder, CEO of Development Reimagined, to discuss how debt and the high cost of debt servicing are affecting economies in Africa. They unpack the history of African debt, the increased role of private lenders and non-Western countries like China on the continent in recent years and how this diversification of creditors might complicate future debt relief efforts. They examine how reforms of the global financial system along with more coordination among African countries could reduce the debt burden and improve their access to financing. They also assess what options African leaders have to tackle the challenges posed by high debt and debt servicing absent larger structural changes to the global financial system. 

This episode of The Horn is produced in partnership with the Friedrich-Ebert-Stiftung.

For more you can read Hannah’s Foreign Policy piece African Lending Needs a Better World Bank, her opinion article in African Business Why are some creditors more preferred than others? and our Africa regional page.

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