IDEAs Organizes International Conference on the African Debt Crisis and the International Financial Architecture
As part of the effort to address African debt crisis and find lasting solutions, the International Development Economics Associates(IDEAs) will organize a three day international conference on the African debts crisis and the international financial architecture slated on the 27th to 29th of March, 2024 in Accra.
The conference is convened in partnership with the African Forum and Network on Debt and Development (AFRODAD) under the auspices of the Government of Ghana and will create a platform for players in the financial space to discuss and deliberate on African debts crisis as well as finding lasting solutions to the continents debts crisis and challenges.
In attendance will include players from academia, experts, Civil Society Organization(CSOs), policy makers and others from across Africa and beyond with presentations on the African debt crisis- past, present and what the future holds, what’s wrong with the IMF debts sustainability analysis and orthodox adjustments strategies, debts and development financing in challenging times, how did Ghana come to the current crisis and how to come out of it, towards an alternative external debt restructuring template, addressing trade and capital account vulnerability.
Addressing the media in Accra, the Chairman of African Executive Council of IDEAs, Dr. Yaw Graham said the conference will create a platform for countries across the African continent to find lasting solutions on debt crisis.
He said the covid -19 pandemic, Russian-Ukraine war, international interest rate among others have contributed to a rise in debts crisis in many African counties, adding that the countries have borrowed from the international credit markets and have accumulated debts which have created huge impact on public finances as a large amount of resources are spent on depth servicing.
He said the continent did not take advantage to build a robust economy as it has borrowed from the international market and the financial inflows keep changing African countries could not have borrowed to service debts.
Source: Ben LARYEA/johnawuniktv@gmail.com
