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AfDB, World Bank to host high level consultation meeting on debt vulnerabilities in Africa

AfDB, World Bank to host high level consultation meeting on debt vulnerabilities in Africa - World Bank, World, the african development, host, high level, bank, african development bank

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and the will jointly a high-level meeting to provide a forum for member countries of both institutions to express their views and lessons learnt from non-concessional borrowing, emerging debt vulnerabilities and IDA’s proposed approach to support countries adopt sustainable borrowing practices.

The meeting which is scheduled to hold on 16th and 17th of May 2019 at Babacar Ndiaye Auditorium, African Development Headquarters, Abidjan at 9.00 am will have in attendance, officials of , , African Finance Ministers, representatives of African Development Fund (FAD) and International Development Association countries (IDA).

The meeting will also be an opportunity for countries to discuss “financing for development” and “debt sustainability in the context of the SDGs agenda and the Addis Ababa action plan.

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Debt in African countries has been on the rise in recent years. One of the causes has been the decline in commodity prices that has unfolded since the global financial crisis of 2008. Proceeds from main exports have dwindled and economic growth has slowed. African governments have increasingly resorted to borrowing to fill the void in their budgets.

What is the role of multilateral development banks in solving this challenge? How can the and the Bank work together to provide solutions? These questions and the outcomes of the meeting will feed into the discussions on policy frameworks for ADF countries and the respective debt policies of both institutions.

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