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As leaders from over 80 countries gather in Brussels for the EU-AU Ministerial Meeting, eight former African leaders are calling for urgent and transformative action to address the growing sovereign debt crisis across the African continent.

In a recent interview with The East African, former President of Mauritius and ALDRI member, Dr. Ameenah Gurib-Fakim, emphasized the importance of debt restructuring for African nations. Speaking on Kenya’s current debt dilemma, she remarked that “debt restructuring is very close to [her] heart as it is one way of achieving Africa’s sovereignty.” Read the […]

As it stands, African countries often have little choice but to borrow at punitive rates to respond to crises they did not create. A revamp of the global lending system – which delivers debt relief and improves borrowing conditions for developing economies – is urgently needed.

Join us for a panel discussion at the World Bank / IMF Spring Meetings 2025, organized by the Debt Relief for a Green and Inclusive Recovery (DRGR) Project. Experts, among them HE Yemi Osinbajo, member of ALDRI, will assess the sovereign debt crisis amid global shocks, review current relief efforts, and propose decisive measures to enable investment in green growth and development.

South Africa President and current G20 Chairperson, Cyril Ramaphosa has expressed support for the African Leaders Debt Relief Initiative (ALDRI) in a speech delivered during the opening of the first G20 Finance Ministers and Central Bank Governors’ meeting in Cape Town.

Eight former African Heads of State and Government have signed the Cape Town Declaration, calling for the critical need for debt relief for highly indebted nations and advocating for lower borrowing costs for all developing countries.