The crushing weight of external debt is crippling Africa’s poorest nations, prompting a coalition of former African leaders, backed by seven ex-heads of state, to push for a new debt relief programme. Their proposal mirrors the Highly Indebted Poor Countries (HIPC) initiative of the 1990s, aiming to ease financial pressure from private, bilateral, and multilateral creditors.
The UN Development Programme has also called for urgent action, highlighting that a 60% debt reduction could save the world’s 31 poorest countries nearly $80 billion. But will global creditors respond?
Joining us to break it all down is Oladipo Ajayi, Head of Fixed Income and FX at Chapel Hill Denham. Stay tuned for expert insights!
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Jen Psaki, former White House press secretary, and Peter Baker, chief White House correspondent for The New York Times, talk with Alex Wagner about what was accomplished by both parties as the House passes the debt ceiling bill, sending it to the Senate, and what President Biden might do to avoid having to deal with a Republican debt ceiling stunt in a potential second term.
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