Central Banks

Thirteenth Sovereign Debt News Update: World Bank, Rating Agencies and Regional Banks in Context

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.

An African perspective of fiscal policies and debt management in the wake of the COVID-19 Pandemic

African countries are very diverse in terms of their current debt situation, debt management practices and government securities markets. Debt management is, therefore, a vital component of the appropriate fiscal policy for the management of the negative impact of COVID-19 on the economy of African countries. However, debt management alone cannot solve structural problems and macroeconomic imbalances. Rather, a holistic approach including an appropriate debt level, debt restructuring, and maintenance of healthy domestic and continental forex markets can contribute to preventing sovereign insolvency despite the negative effects of this pandemic to African countries.

Global South International Financial Institutions and COVID-19 Response: Utilising Innovative Financing Solutions now and after the Pandemic

Financial institutions should focus on the positive opportunities and learning experiences from this pandemic and plan how they will help their member states adjust to the effects of COVID-19 and attain sustainable development thereafter. This step will be in line with the World Bank’s advice on planning for the economic recovery from COVID-19, in the bid for nations to restart their economic engines and build back stronger and better in the short term and longer term.

Why central banks need to take human rights more seriously

This analysis demonstrates three key points. First, it is becoming untenable for central banks to avoid incorporating their human rights impacts into their decision-making and operations. Second, a human rights approach offers central banks a new tool for understanding the true costs and benefits of their operations. Third, central banks can meet their human rights responsibilities without compromising the independence they need to meet their monetary and financial responsibilities.