The European Business Council for Africa

The current crisis presents a unique opportunity to address the systemic problem of excessive debt burdens of developing countries, while also making sure that investment flows into achieving the Sustainable Development Goals. Achieving that would require innovative solutions and multilateral cooperation. The G20-Paris Club Debt Service Suspension Initiative adopted in April 2020 provided immediate liquidity to 46 countries of over 5bn for health, economic and social spending in the face of the pandemic emergency. But suspending debt payments will not be enough for many countries facing unsustainable debt situations. These countries need rapid, fair and effective debt restructuring, while maintaining access to sustainable financial flows. The conference will present proposals for achieving such debt restructurings, considering the complex and dispersed creditor landscape and the weaknesses in the international sovereign debt architecture.


Felix Fernandez-Shaw 
Director, DEVCO A - International Cooperation and Development Policy - Opening remarks 
Hamid Rashid 
Chief of the World Economic Monitoring Unit at the United Nations 
Erica Gerretsen 
Head of Unit DEVCO A4, Budget Support, Public Finance Management and Domestic Revenue Mobilisation - Closing remarks
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