Eight former African Heads of State and Government have signed the Cape Town Declaration, calling for the critical need for debt relief for highly indebted nations and advocating for lower borrowing costs for all developing countries.
The Declaration was signed at the launch of the African Leaders Debt Relief Initiative (ALDRI), which reflects the leaders’ commitment to rallying for a comprehensive debt relief strategy for countries in dire financial situations.
“The debt crisis has been worsened by rising interest rates and a stronger dollar, making it increasingly difficult for African countries to manage dollar-denominated debt. A global solution to this crisis is not only vital for our economies but…
