Economics
Senegal Cautions Against Private-Debt Relief for African Nations
- Investors key for future financing, economy chief says
- G-20 should do more to bolster resources for poor economies
This article is for subscribers only.
Stronger African economies don’t need debt relief from bondholders, whose money will be crucial to help finance the recovery of the continent, according to Senegal Economy and Planning Minister Amadou Hott.
Senegal is one of 46 low-income nations that got a waiver on bilateral debt payments until the first half of 2021 under a plan by the Group of 20 major economies to ease the blow of the coronavirus pandemic. The G-20 has chided private creditors for not joining the relief drive, which has deferred $5.7 billion in interests and principal so far.