SUPPORT MEMORANDUM

AFRODAD supports the New York Taxpayer and International Debt Crises Protection Act as a necessary tool to ensure private creditors contribute to debt relief for African nations. The organization notes that 23 African countries are currently in or at high risk of debt distress, a situation exacerbated by the COVID-19 pandemic, the climate emergency, and the Ukraine-Russia conflict. AFRODAD argues that commercial credit via sovereign bonds is a primary driver of these crises, particularly in countries like Ghana, Zambia, and Kenya, and advocates for a reformed global debt architecture to prevent widespread defaults.

• AFRODAD supports the New York Taxpayer and International Debt Crises Protection Act because it offers a mechanism to ensure that private creditors participate in debt relief efforts.

APA

African Forum and Network on Debt and Development (2023). SUPPORT MEMORANDUM. https://afrodad.org/sites/default/files/letters/Letter-to-Support-an-urge-Adoption-of-Senator-Hoylman-Sigal-and-Assemblymember-Pat-Fahys-New-York-Taxpayer-and-International-Debt-Crises-Protection-Act._0.pdf

Chicago

African Forum and Network on Debt and Development. SUPPORT MEMORANDUM. 2023. https://afrodad.org/sites/default/files/letters/Letter-to-Support-an-urge-Adoption-of-Senator-Hoylman-Sigal-and-Assemblymember-Pat-Fahys-New-York-Taxpayer-and-International-Debt-Crises-Protection-Act._0.pdf.

Wikipedia

{{cite press release |author=African Forum and Network on Debt and Development |title=SUPPORT MEMORANDUM |date=2 March 2023 |url=https://afrodad.org/sites/default/files/letters/Letter-to-Support-an-urge-Adoption-of-Senator-Hoylman-Sigal-and-Assemblymember-Pat-Fahys-New-York-Taxpayer-and-International-Debt-Crises-Protection-Act._0.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{africanforumandnetworkondebtanddevelopment2023support, author = {{African Forum and Network on Debt and Development}}, title = {{SUPPORT MEMORANDUM}}, publisher = {African Forum and Network on Debt and Development}, year = {2023}, month = mar, url = {https://afrodad.org/sites/default/files/letters/Letter-to-Support-an-urge-Adoption-of-Senator-Hoylman-Sigal-and-Assemblymember-Pat-Fahys-New-York-Taxpayer-and-International-Debt-Crises-Protection-Act._0.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }