The Debt-Climate Nexus in Africa and Development-Centered Solutions
Sub-Saharan African countries face increasing debt distress and vulnerability, with annual debt servicing costs accounting for 80% of climate finance needs. Multilateral cooperation is needed to focus on debt sustainability and climate goals. The Vulnerable Group of 20 and other developing countries have launched the Emergency Coalition for Debt Sustainability and Climate Prosperity, which will launch at the 2023 IMF/WB Group Annual Meetings. An African Climate Summit side event will discuss climate and development-centered frameworks for debt restructuring.
Panelists:
- Abebe Shimeles, African Economic Research Consortium and University of Cape Town
- Jason R Braganza, Executive Director, AFRODAD
- Kevin P. Gallagher, Director, Boston University Global Development Policy Center
- Sara Jane Ahmed, Finance Advisor to the Vulnerable Group of Twenty (V20) Ministers of Finance of the Climate Vulnerable Forum
- Hanan Morsy, Deputy Executive Secretary and Chief Economist United Nations Economic Commission for Africa
- Location:African Climate Summit, Kenyatta International Convention Centre, Nairobi, Kenya.
Room: KICC, room ACS 2 – River Nile.