From May 12 to May 14, 2025, the African Union convened its inaugural Conference on Debt in Lomé, Togo, under the theme: “Africa’s Public Debt Management Agenda: Restoring and Safeguarding Debt Sustainability.” The conference aimed to address Africa’s escalating public debt challenges and explore sustainable solutions to ensure long-term economic stability (au.int).
🗣️ Keynote Speakers and Participants
The conference brought together Heads of State, finance ministers, central bankers and economic experts from across Africa, along with representatives from international financial institutions such as the International Monetary Fund (IMF), World Bank, and the African Development Bank (AfDB). Notable speakers included:
- H.E. John Dramani Mahama, President of Ghana
- Mr. Claver Gatete, UN Under-Secretary-General and Executive Secretary of the Economic Commission for Africa (ECA)
- H.E. Moses Vilakati, African Union Commissioner for Economic Development, Trade, Tourism, Industry, and Minerals (ETTIM) (au.int)
📌 Objectives and Outcomes
The conference focused on:
- Assessing the current state of public debt in Africa, with over 25 countries identified as being at high risk of debt distress or already in debt distress (au.int)
- Discussing strategies to restore and safeguard debt sustainability
- Exploring innovative financing mechanisms and the establishment of an African Credit Rating Agency (AfCRA) to enhance Africa’s financial autonomy (aprm.au.int)
- Adopting the Lomé Declaration, which called for a new global financial order that better accommodates Africa’s development needs (au.int)
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