The G20 must follow through on debt relief

As G20 leaders met in Johannesburg last month, they faced a grim reality: many developing-country governments are spending more than they can afford on debt service. To keep funds flowing to foreign creditors, policymakers have been forced to cut spending on education, healthcare, and infrastructure. These countries have so far avoided default, but at the…

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Somalia receives debt relief, financial aid

São Paulo – The African Development Bank Group (AFDB) announced earlier this week an additional debt relief for Somalia and the approval of a grant from its fund to the country, totaling USD 19.7 million, the AFDB reported. The debt relief, granted through the African Development Fund (ADF), which is also providing the financial grant,…