The European Business Council for Africa

The Paris Club, which represents major creditor nations, has announced the suspension of debt service payments for 12 countries including Ethiopia, Chad and Republic of Congo.

This is part of a G20 debt relief initiative to help poor countries weather the coronavirus. Calls for debt relief have become one of the major themes of the crisis, even compelling reluctant China to announce debt repayment suspensions for dozens of developing countries.

Africa, where dozens of economies were already struggling to service soaring debt before the virus, has quickly become the focus of relief efforts.

All of this may give the impression that there‚Äôs meaningful help on offer. 

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