AfDB Calls for Faster Debt Resolution Mechanism for Ghana and Other African Nations
The African Development Bank (AfDB) has raised concerns over the slow and challenging debt resolution process for Ghana and other debt-distressed African countries. Despite the G20 framework's efforts to harmonize official creditors and commercial lenders, the AfDB argues that the debt treatment architecture remains cumbersome. At the 59th AfDB Annual Meetings in Nairobi, Kenya, Dr. Akinwumi Adesina, President of the African Development Bank Group, emphasized the need for reforms in the global financial architecture to provide more effective debt resolution mechanisms for Africa. “I understand it takes a long time; it's a very difficult process because you have Paris Club...
