Angolan President Joao Lourenco, current chair of the African Union, on Monday called for fairer debt restructuring tools and innovative financing instruments to support Africas development.
Lourencos comments, delivered to African and European Union leaders assembled in Angolas capital, come as a growing number of African countries are at risk of debt distress.
The Group of 20s Common Framework, set up during the COVID pandemic to speed up debt restructuring for poorer nations, has made limited progress, though last weekends G20 summit in South Africa committed to improving it.
