The Economics of African Debt Restructuring | Business Edge | 02/05/2023

The accumulation of over $700 billion of debt over the past 20 years has created an uneasy environment for many analysts. The International Monetary Fund says that 22 low-income African countries are in or at risk of debt distress. Many of the loans are due to be serviced in the next two years, creating some fear of further market turmoil. The specifics of African sovereign debt are incredibly nuanced and require a deep dive into country-specific situations and multilateral relationships. And while we’ve heard the doom and gloom stories around Africa’s sovereign debt, there are those who believe that by 2024, many of Africa’s debt-distressed sovereigns will have successfully restructured their most unaffordable loans, whether domestic or external obligations, placing these countries in much better stead to attract private investment, in particular from sustainability-focused and impact investors to address the USD 100 billion annual infrastructure financing gap.

ANCHOR
Tolulope Adeleru-Balogun
GUEST
Dr. Robert Besseling, Founder and CEO of Pangea-Risk, a specialist intelligence advisory that focuses on political, security, and economic risk in Africa and the Middle East.

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