Debt Relief

The African Sovereign Debt Justice Network, (AfSDJN), is a coalition of citizens, scholars, civil society actors and church groups committed to exposing the adverse impact of unsustainable levels of African sovereign debt on the lives of ordinary citizens. Convened by Afronomicslaw.org with the support of Open Society for Southern Africa, (OSISA), the AfSDJN's activities are tailored around addressing the threats that sovereign debt poses for economic development, social cohesion and human rights in Africa. It advocates for debt cancellation, rescheduling and restructuring as well as increasing the accountability and responsibility of lenders and African governments about how sovereign debt is procured, spent and repaid.

We reiterate our position that African countries did not take part in designing the current international financial architecture, embedded in their historical subjugation. Resultantly, as highlighted by the President of Ghana, Nana Akufo-Addo, it is “skewed significantly against developing and emerging economies” in favor of rich countries. A reform of the governance structure of the Bretton Woods institutions is required as a significant step towards recognizing African countries and citizens as rule makers in the re-design of the international financial and debt architecture.

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.