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The document examines the drivers of debt distress in developing countries, particularly in Africa, and critiques the inadequacy of current G7 and G20 relief mechanisms. It highlights how a shift toward private creditors and the failure of the G20 Common Framework to enforce private sector participation have hindered debt restructuring. The text advocates for a total dismantling of the current global financial architecture in favor of innovative domestic financing, increased transparency, and the establishment of an International Developing Country Debt Authority.

The report examines how illicit financial flows (IFFs) deprive East and Southern African governments of resources needed for social protection. Focusing on Uganda, Tanzania, Zambia, and Zimbabwe, it compares the scale of financial losses from tax evasion, corruption, and trade misinvoicing against the funding gaps in social assistance programmes. The study concludes that recovering these lost funds could significantly increase the coverage and adequacy of social protection floors for vulnerable groups.

The document examines the intersection of debt, capitalism, and patriarchy in Africa, arguing that neoliberal debt architectures and austerity measures externalise the costs of social reproduction onto women. It highlights how sovereign debt crises lead to cuts in public services, which in turn drives households toward predatory private lending and microfinance. The author calls for a systemic reform of the global financial architecture, including debt relief without conditionalities, progressive domestic resource mobilisation, and stricter regulation of predatory lending to protect vulnerable populations.

The Harare Declaration 2021, adopted during the inaugural African Conference on Debt and Development (AfCoDD), argues that the current global financial architecture is broken and fails African citizens. It highlights how the Covid-19 pandemic has exacerbated debt vulnerabilities, potentially pushing 39 million Africans into extreme poverty in 2021 and burdening future generations. The document criticizes the IMF's debt sustainability frameworks and private credit rating agencies for prioritizing creditor interests over social and environmental justice. It identifies systemic issues such as illicit financial flows, aggressive corporate tax planning, and the use of Resource Backed Loans as drivers of unsustainable debt. To address these, the Declaration advocates for the reform of global debt architecture, the creation of an African Accountability Mechanism, and the establishment of regional institutions including an African Monetary Fund, an African Development Bank, and an African Investment Bank. It further urges African governments to consider debt cancellation and collective default to break the cycle of dependency on the global north.

The document argues that Zimbabwe's reliance on resource-backed loans and a lack of transparency in the extractives sector have fueled illicit financial flows and widened inequality. It highlights that while mining is a cornerstone of the economy, benefits fail to reach the poor because revenues are diverted to debt servicing and lost to corruption. The study recommends that Zimbabwe join the Extractive Industries Transparency Initiative (EITI) and embed tax justice into its governance models to protect national resources and improve social spending.

The African Borrowing Charter provides a framework for African states to balance public debt with the need for inclusive growth and public service delivery. It emphasizes transparency, parliamentary oversight, and the establishment of robust legal frameworks to prevent a recurrence of the debt crises seen in the 1970s-1990s. The Charter advocates for the creation of Public Debt Management Offices and the enactment of Fiscal Responsibility Acts to maintain macroeconomic stability and protect future generations from unsustainable debt burdens.

The Harare Declaration calls for a 'New Debt movement' to reform the global debt architecture, citing the risks of a debt crisis similar to the 1980s and 1990s. It criticizes current IMF debt sustainability frameworks and private credit ratings for ignoring social and environmental tradeoffs. The document advocates for an African Accountability Mechanism, the creation of regional financial institutions like an African Monetary Fund, and considers measures such as debt cancellation or collective default to break the cycle of indebtedness.

The Harare Declaration, adopted during the first African Conference on Debt and Development (AfCoDD) in August 2021, calls for a systemic overhaul of the global debt architecture to address the vulnerabilities of African nations. It highlights how the COVID-19 pandemic exacerbated poverty and debt burdens, potentially pushing 39 million Africans into extreme poverty. The document criticizes the current system for prioritizing creditor interests over social and environmental justice, noting a shift toward commercial bonds and a lack of transparency in debt contraction. To counter this, the declaration proposes the creation of an African Monitoring and Control Mechanism, a Monetary Fund, and an African Bank. It further advocates for a feminist approach to macroeconomics, a green recovery aligned with the AU's Agenda 2063, and the possibility of collective debt default to break the cycle of neoliberal dependency.

The paper examines African debt sustainability through the lens of center-periphery and dependency theories, asserting that structural exploitation by industrialized nations traps the continent in recurring debt cycles. It analyzes the first debt crisis of the 1980s, the role of civil society in achieving relief through the HIPC and MDRI initiatives, and the emergence of a second crisis around 2020. The author concludes that true sustainability requires a 'strong developmental state' to lead industrialization and a strategic 'delinking' from institutions like the IMF and WTO.

The African Forum and Network on Debt and Development (AFRODAD) conducted various capacity-building initiatives, policy advocacy, and institutional partnerships in 2024 to address Africa's public debt burden, reform the global financial architecture, and promote sustainable debt management.

The report finds that while Zambia, Zimbabwe, and Malawi have adopted progressive PFM legislation, there is a systemic failure in implementation, leaving them vulnerable to unsustainable debt and illicit financial flows. It highlights that parliamentary oversight is often non-binding and that there are significant gaps in guarding against 'debt vultures'. The SADC PF Model Law is presented as a framework to harmonize these systems, emphasizing the need for binding audit recommendations, inter-agency collaboration to fight illicit financial flows, and stricter debt contracting safeguards.

The document examines how rising debt burdens in Africa lead to austerity measures that compromise basic human rights, such as health and education. It highlights the success of previous debt relief initiatives like HIPC and MDRI while calling for a human rights-based approach to current debt management and the revamping of the G20 Common Framework.

The document examines resource-backed loans (RBLs) as a tool for financing infrastructure in resource-rich developing nations, particularly in Sub-Saharan Africa. While RBLs can unlock funding and reduce corruption by bypassing government control of funds through special purpose vehicles, they often lead to unsustainable debt, lack of transparency, and unfair terms that favour lenders. The brief recommends integrating RBLs into public procurement systems, increasing transparency, and utilizing expert negotiators to protect national interests.

Zambia's national debt reached $25.5 billion by the end of 2023, creating a crisis that crowds out essential social spending and hinders economic development. The report identifies key drivers including excessive borrowing for unproductive infrastructure, high reliance on volatile copper exports, and significant revenue losses from tax evasion and illicit financial flows. While Zambia has sought relief through the G20 Common Framework and IMF facilities, the report argues that the current restructuring process is inefficient and that long-term stability requires domestic resource mobilisation, strengthened parliamentary oversight, and a transition toward sustainable borrowing practices.

The Civil Society FfD Mechanism argues that the EU is negotiating in bad faith by attempting to undermine a February 2024 agreement on a UN Framework Convention on International Tax Cooperation (Para 27). The group also calls for the retention of Para 66 and Para 73, asserting that unilateral trade measures justified as climate actions create unbalanced barriers for Global South exports and hinder the transition to greener pathways. Finally, the statement demands full transparency for the FfD4 preparatory process, including live streaming and simultaneous sharing of texts with civil society, criticizing co-facilitators Spain and South Africa for failing to uphold these modalities.

The document critiques the G20 Common Framework and prior initiatives like HIPC, MDRI, and DSSI, claiming they provide minimal relief while encouraging new borrowing. It highlights the negative impact of credit rating agency biases and the lack of private creditor participation. The authors propose a shift toward an African-led financial system, including a gold-backed currency called the African Financial Asset (AfA), and call for unconditional debt cancellation.

The document examines how African public debt is rooted in colonial constructs and enforced through contract law, often perpetuating economic dependency. It analyzes the legal architecture at national and international levels, the various debt instruments used, and the systemic failures in transparency and accountability that lead to debt crises. The paper advocates for constitutional reforms, independent debt management offices, and a multilateral sovereign debt restructuring mechanism to ensure sustainable development and protect human rights.

The document examines the tension between Africa's fossil fuel endowments and the global push for decarbonization, highlighting the risks of stranded assets and the dominance of Global North financing. It argues for a Just Transition that ensures energy access while moving toward low-carbon sources.

The paper examines the limitations of short-term economic rescue measures in East Africa following Covid-19, advocating for a shift toward 'fiscal democracy' and 'civil protection' to address systemic vulnerabilities. It highlights how high public debt, illicit financial flows (IFFs), and a lack of public participation in fiscal policy undermine economic sustainability. The author calls for human rights-based approaches to tax justice and a return to civic education to empower citizens to hold governments accountable for service delivery and resource management.

The document argues that while loans from development partners have helped launch social protection schemes in Kenya and Tanzania, they create long-term debt sustainability risks and may undermine national autonomy. It advocates for a shift toward grant-based financing and domestic resource mobilization to ensure the sustainability of social protection floors.