An economist's perspective on the limits of the current model and possible alternatives for Global South states.
Debt that has doubled
African public debt has doubled in ten years. Global interest rates and the depreciation of certain local currencies are worsening debt service, to the detriment of social spending.
Toward new instruments
The author argues for suspension clauses in the event of climate shocks, greater transparency on loans backed by natural resources, and strengthening fiscal capacity rather than taking on new commercial borrowing.
Indebtedness for the continent's climate future to finance yesterday's infrastructure is no longer sustainable.
— Prof. Adjoua Mensah
