The EU is committed to supporting international efforts to alleviate the debt burden of African countries. The EU Council confirmed this in conclusions adopted on Monday 30 November in response to a request from the October European Council (see EUROPE 12610/21).
The EU Council stresses the increased vulnerability to debt in low-income countries, particularly in Africa, and highlights the EU’s support for a coordinated international approach to debt relief efforts for African countries.
It recognizes that further debt relief may be necessary for countries with unsustainable debt levels. It welcomes the agreement reached at the G20 on a “ common framework for the treatment of debt beyond ISSD”.
In this context, it calls for the negotiation of debt restructuring, if necessary, on a case-by-case basis, while making it conditional on the fulfilment of strict conditions on public financial management, anti-corruption frameworks and domestic resource mobilisation in the context of an IMF programme.
The EU Council also underlines that debt transparency is crucial for a proper assessment of debt sustainability and the accountability of debtor governments and supports international efforts to enhance debt transparency in low-income countries.
See the conclusions: https://bit.ly/39tozAX (Original version in French by Aminata Niang)