A People-Centred Debt Relief Beyond the G20 Common Framework

Towards the Unfinished Business of Debt Restructuring: Mobilising Consensus for a People-Centred Debt Relief Beyond the G20 Common Framework

The ineffectiveness of the debt relief mechanisms points to the persistent challenges of the international financial architecture that provides no tools to prevent unsustainable debt and continues to address debt problems according to the needs and interests of creditors, rather than the development needs of the debt-distressed countries. African countries desperately need fiscal space in the short and medium term through meaningful debt relief, akin to HIPC and MDRI. There is therefore a need to consider a people-centred approach to debt restructuring, beyond the G20 Common Framework.

Therefore, AFRODAD will convene a webinar ahead of the IMF and World Bank Annual Meetings from October 13th–20th October 2025 to examine the possibilities of an ambitious debt relief mechanism, similar to HIPC, in view of the challenge of private creditors. The main objectives will include:

1. Critically review the efficacy of existing debt restructuring mechanisms, highlighting gaps in creditor coordination, timeliness, and enforceability
2. Explore the potential for more ambitious debt restructuring initiatives beyond the G20 Common Framework in the context of multiple creditors, which will include private lenders and the IMF’s role that is people-centred and moves beyond the G20 Common Framework

3. Highlight the importance of debt architecture reforms through the UN Framework Convention on Sovereign Debt

    

Find here! - the concept note

Register here! for the webinar