Africa’s Only G-20 Member Wants to Reform Its Debt Framework
- South Africa leading peers to present changes, minister says
- Africa’s leaders are increasingly critical of rich nations
Enoch Godongwana
Photographer: Dwayne Senior/BloombergThis article is for subscribers only.
Africa’s only member of the Group of 20 nations is working with its continental peers to propose reforms to the forum’s mechanism for countries to restructure unaffordable debt.
“We were proponents of the debt relief but the design, now, we’re not happy with,” South African Finance Minister Enoch Godongwana said in an interview in Washington Friday. The mechanism doesn’t make it attractive for vulnerable countries and “needs to be restructured,” he said.