Revisiting Debt Sustainability in Africa

This paper assesses the financing needs of African countries in the context of the recently adopted 2030 Agenda for Sustainable Development. It assesses the various options for African countries to finance their development, in the context of the current international economic environment and the Addis Ababa Action Agenda (FFD). It critically reviews the main debt relief initiatives established by the international community. It also reviews and evaluates existing debt sustainability frameworks (DSFs) as operated by the World Bank and the International Monetary Fund (IMF). It analyzes the opportunities and pitfalls posed by Africa's increased access to international private capital markets. Finally, the paper provides some conclusions, lessons learnt from previous debt relief initiatives, and policy proposals for an SDG consistent debt sustainability framework.