Why African countries are shying away from debt relief
Countries that have the capacity to forgo debt relief should do so to avoid losing investor confidence
The Bretton Woods institutions, Group of 20 (G20), African Development Bank, Inter-American Development Bank and all Paris Club creditors have approved debt service relief for more than 25 African countries for at least the next six months.
The goal is to free up more than $20bn that governments could use to buttress their health services. There have also been calls for outright debt cancellation to lessen the debt burden as African countries use all available lines of credit to secure resources to fight the Covid-19 pandemic...