Introducing a Third Way for African Debt Relief: A Proposal by W. Gyude Moore
On March 10, 2023, the Center for Global Development published the blog-post article “Breaking the Logjam on African Debt Relief: A Third Way?” written by W. Gyude Moore
The article proposes a new “third way” approach to the current system of debt relief for African countries. The author argues that the African Union plays a crucial role in this regard:
“The African Union, which has been demanding a permanent G20 seat to influence global governance, has an opportunity to advance a third way outside the two existing camps and present a proposal which is able to a) acknowledge and account for China’s outsized and unique position among bilateral creditors and b) drive political consensus around an resolution based on the same principles as Multilateral Development Relief Initiative (MDRI), thereby preserving the preferred creditor status of the international finance institutions.”
You can read the full article here.
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