High level consultation on addressing debt vulnerabilities
in African Development Fund and
International Development Association countries
WHO: African Development Bank, The World Bank, African Finance Ministers, representatives
of African Development Fund (FAD) and International Development Association countries (IDA)
WHAT: High-level consultation meeting
WHERE: Babacar Ndiaye Auditorium, African Development Bank Headquarters, Abidjan
WHEN: 16th and 17th of May, 2019 at 9.00 am
The African Development Bank and the World Bank will jointly host 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. I
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.
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 African Development Bank and the World 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.