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Africa opens talks on debt, growth 

By BUUMBA CHIMBULU in Dakar

THE third African Conference on Debt and Development (AfCoDD III) has opened in Senegal today where Zambia, in one of the sessions, will be used as a case study on the efficiency of the G20 Common Framework in providing debt treatment.

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The African Forum and Network on Debt and Development (AFRODAD) in partnership with the Trust Africa will take place from August 30 to September 1, 2023 under the theme “The 4Rs for Africa Rule-Maker: Reimagining, Rethinking, Reorganising, and Remobilising for an African World Order.”

AFRODAD in a statement said this flagship event aimed to provide a platform for Africans to engage in critical discussions about Africa’s economic, political, and social self-determination.

“AfCoDD III builds upon the success of its predecessors, setting the stage for an important dialogue that addresses the complexities of Africa’s current debt landscape and the need for a new approach to economic development.

“The conference aims to foster innovative ideas and strategies that redefine Africa’s role in the global financial architecture and drive the continent towards a sustainable and equitable future,” AFRODAD stated.

According to the programme, one the sessions during the conference is the efficiency of the G20 Common Framework in providing debt treatment which Zambia would be used as a case study.

The proposed session would discuss on the efficiency of the G20 Common Framework in treating sovereign debt, with experiences from Zambia.

“Presenter will examine Zambia’s debt situation within the broader context of African debt challenges. Discussants will (i) share lessons learned and best practices that can be adopted by other African countries facing similar debt challenges, (ii) discuss potential opportunities, challenges, and risks associated with debt restructuring under the G20 Common Framework.

“They will also seek to strengthen collaborative partnerships by engaging with other participants, policymakers, and international organisations that can drive tangible progress in debt restructuring and sustainability,” according to the programme.

Among the discussants would be Peter Mumba from Zambia’s Civil Society Organisation Debt Alliance.

As Africa stands at a crossroads, facing the intertwined challenges of debt, economic development, and global governance, AfCoDD III serves as a beacon of hope and collaboration.

AFRODAD and its partners have invited all stakeholders, policymakers, researchers, activists, and concerned citizens to join in this critical conversation and work towards shaping a brighter future for Africa.

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