Leading international development experts have called for fundamental reforms to the global debt architecture, warning that developing nations face unprecedented fiscal pressures threatening healthcare, education and climate action investments.
The experts delivered their assessments during a media briefing on November 13 ahead of the Group of 20 (G20) Global Leaders Summit in Johannesburg. Panelists emphasized that Africa and other developing regions are experiencing debt servicing costs that consume substantial portions of government revenues while yielding minimal development returns.
Mahmoud Mohieldin, United Nations (UN) Special Envoy on Financing Sustainable Development, described the situation…