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https://theconversation.com/easing-africas-debt-burdens-a-fresh-approach-based-on-an-old-idea-239427>
"The statistics are stark: 54 governments, of which 25 are African, are
spending at least 10% of their revenues on servicing their debts; 48 countries,
home to 3.3 billion people, are spending more on debt service than on health or
education.
Among them, 23 African countries are spending more on debt service than on
health or education.
While the international community stands by, these countries are servicing
their debts and defaulting on their development goals.
The Group of 20’s current approach for dealing with the debts of low income
countries is the Common Framework.
It requires the debtor to first discuss its problems with the International
Monetary Fund (IMF) and obtain its assessment of how much debt relief it needs.
Then it must negotiate with its official creditors – international
organisations, governments and government agencies – over how much debt relief
they will provide. Only then can the debtor reach an agreement – on comparable
terms to the official creditors – with its commercial creditors.
Unfortunately, this process has been sub-optimal."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
