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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