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ACCRA – On November 24-25, African and European leaders will meet in Luanda, Angola, for the European Union-African Union summit. Marking 25 years of EU-AU partnership, the gathering is not just a celebration but a moment to define what the next quarter-century will mean for relations between the two continents.
For Africa, the stakes could not be higher. Many African countries are burdened by unsustainable levels of sovereign debt that impede their ability to invest in resilient infrastructure and sustainable development. Public external debt has more than tripled since 2008, with a sharp rise in obligations to private bondholders.
These debt burdens have been compounded by the surge in borrowing costs and the…