This policy paper calls for a paradigm shift in understanding and addressing Africa's debt. It urges a departure from the conventional, technocratic view that frames Africa's economic challenges as stemming from excessive borrowing and fiscal mismanagement. Instead, the paper highlights the structural inequities in the global financial system, which inflate debt-to-GDP ratios by suppressing Africa's GDP growth. It argues that this skewed measure fails to capture Africa's economic potential and overlooks the broader systemic issues hindering its development.
Advocating for a political economy approach, the paper challenges the global narrative around Africa’s debt distress, asserting that meaningful reform of international financial institutions is essential to creating a fairer, more resilient economic landscape. As the world approaches the United Nations Summit of the Future, this paper underscores Africa’s right to a prominent role in shaping global financial reforms, aiming to correct historical imbalances and unlock Africa’s full leadership potential in the global economy.
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Secretary-General's Reports
- New Partnership for Africa’s Development: Consolidated progress report on implementation and international support
- Promotion of durable peace and sustainable development in Africa
- Biennial report on the review of the implementation of commitments made towards Africa’s development
- United Nations system support to Agenda 2063: The Africa we want
Other Reports and Publications
- Annual Reports of the UN Interdepartmental Task Force on African Affairs
- Africa's Fiscal Space, Fragility and Conflict: A Compendium of Papers Presented at the 2022 OSAA-ACBF Academic Conference