- Gregory Smith, Emerging Markets Fund Manager, M&G Investments and Author of Where Credit is Due: How Africa’s Debt Can Be a Benefit, Not a Burden
- Scott Morris, Director of the U.S. Development Policy Initiative, Co-Director of Sustainable Development Finance, and Senior Fellow, Center for Global Development
ABOUT THE EVENT
Almost three decades after the highly indebted poor countries (HIPC) initiative cleared $76 billion in unsustainable debts from the balance sheets of 37 countries, the sovereign debt burdens of many African countries are once again approaching concerning levels. But despite the many similarities between the debt situations of the 1980’s and today, new factors have emerged to confound any modern attempt at debt relief. Africa’s debts are currently owned by a wider array of creditors ever before, including restructuring-resistant private lenders, and the notoriously opaque Chinese government. And with states still grappling to control the ongoing COVID-19 pandemic, Africa’s need for low-cost capital has never been higher.
Against this backdrop, CGD welcomes you to an upcoming discussion featuring Gregory Smith on his new book Where Credit is Due: How Africa’s Debt Can Be a Benefit, Not a Burden. With over 15 years of experience studying development economics and emerging market finance, Smith brings a wealth of expertise to bear on the issues facing African finance ministers today, and the future of African debt sustainability. Among other things, the discussion will focus on the structure and distribution of Africa’s current debt burden and innovative financing models that might help African countries outgrow their debts. The event will feature a one-on-one discussion between Gregory Smith and CGD Senior Fellow Scott Morris, followed by audience Q&A.