African Union, AfDB, and Togo Join Forces to Tackle Continent’s Debt Crisis

By Esther Edoh

Lomé, Togo – The African Union (AU), the African Development Bank (AfDB), and the Government of Togo are joining forces to address the growing challenge of public debt across the continent. A landmark High-Level Conference on Africa’s debt, themed “Africa’s Public Debt Management Agenda: Restoring and Safeguarding Debt Sustainability,” will be held in Lomé, Togo, from May 12-14, 2025.

The conference aims to forge a unified African position on debt management and engagement with creditors. Participants will work towards developing, presenting, and adopting the African Union Lomé Declaration on Africa’s Debt, a document outlining a set of common debt management principles for AU Member States. This shared framework seeks to guide responsible debt management and promote harmonized interactions with international creditors.

The three-day event will convene policymakers from AU Member States, debt management experts, development partners, regional organizations, civil society representatives, and academic researchers. The agenda is packed with sessions focusing on critical aspects of Africa’s debt landscape, including:

• The Global Financial Architecture: Examining its impact on Africa’s debt landscape.
• The Current State of Public Debt Management: Assessing existing practices across the continent.
• Legislative Oversight and Legal Frameworks: Strengthening legal frameworks for responsible debt management.
• Debt Relief, Restructuring, and Innovative Financing Solutions: Exploring strategies to alleviate debt burdens and secure sustainable financing options.
• Credit Ratings: Analyzing their influence on African economies and exploring potential reforms.
• Transparency and Accountability: Promoting open and accountable debt management practices.
• International Cooperation: Exploring avenues for strengthening national capacities for effective debt management through international partnerships.

The conference will feature a Presidential Dialogue, High-Level Panel Discussions, and a series of technical panel sessions. These sessions will delve into the opportunities, challenges, and potential solutions related to public debt in Africa.

Distinguished speakers and panelists include H.E. Faure Essozimna Gnassingbé, President of Togo; Mr. Claver Gatete, Executive Secretary, UNECA; H.E. Mahmoud Ali Youssouf, Chairperson of the African Union Commission; Hon. Georges Barcola, Minister of Finance, Togo; and Prof. Kevin Chika Urama, Chief Economist and Vice President for Economic Governance and Knowledge Management, African Development Bank Group.

The Lomé conference represents a crucial step towards a more sustainable and equitable debt future for Africa. By fostering collaboration and developing a common position, the AU, AfDB, and the Government of Togo aim to empower African nations to manage their debt more effectively and secure their long-term economic stability.