Climate Justice

Eightieth Sovereign Debt News Update: Kenya’s President Calls for Global Finance Architecture Reform

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.

Roll out the Drums, or Not: Hits and Misses at COP 27

Loss and damage support was one of the key demands of African states and other developing countries at the 27th meeting of the conference of parties to the United Nations Framework Convention on Climate Change (COP 27). On November 20, 2022, a deal on L&D funding was announced. The development has been described as a “breakthrough”, “historical”, and “landmark” agreement. This however raises important questions for developing countries. To what extent do these new initiatives worsen the indebtedness of developing countries, constrain their fiscal space, and generally make it more difficult for such countries to thrive?