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  - WN.COM - Africa - Hier 16:00

Africa needs its own financing system

By Carlos LOPES Like many other multilateral forums, this month’s Fourth International Conference on Financing for Development (FfD4) may well produce impressive declarations and laudable promises. But will lofty rhetoric be translated into concrete progress in lowering the structural and systemic barriers to financing development in Africa, including deteriorating debt sustainability, dwindling concessional finance, and declining access to affordable capital? Africa’s debt crisis did not emerge overnight. It is the result of years of chronic underfinancing, which forced countries to borrow for even the most basic investments. Between 2010 and 2021, the share of Africa’s public external debt...

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