Debt Cancellation

One Hundred and First Sovereign Debt News Update: Zambia and its Official Creditor Committee Agree on a Memorandum of Understanding (MoU) on Comprehensive Debt Treatment

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.

New AfSDJN Policy Brief focuses on Debt, Climate Finance and Vulnerability for Countries in Africa

There is a correlation between climate change, climate finance, and unsustainable debt levels in Africa. In this African Sovereign Debt Justice Network (AfSDJN) Brief, we highlight this connection focusing on eight countries in debt distress currently (Chad, The Republic of Congo, Mozambique, Sao Tome and Principe, Somalia, Sudan, Zambia, and Zimbabwe) and one highly indebted country (Ethiopia) in sub-Saharan Africa. These countries (referred to here as Debt and Climate Vulnerable (DCV) countries) are also some of the most climate vulnerable countries despite having some of the least carbon footprints.