Debt sustainability in Africa: state of play and future challenges

Almost fifteen years after the last debt relief initiatives were implemented by the international community, some African countries have either recently defaulted on their public debt, subscribed to the Debt Service Suspension Initiative (DSSI) put in place by official lenders in 2020, or are making progress toward a possible restructuring of their debt under the aegis of the G20 and of the Paris Club, but also of so-called “emerging” and private creditors. All of this seems to validate the widespread idea that there is a new debt crisis in Africa.