From Crisis to Reform: How the G20 can Support the Reform of the financial Architecture to unlock private capital for Low-Income, Resource- Rich economies in Africa

Sep 19, 2024

From Crisis to Reform: How the G20 can Support the Reform of the financial Architecture to unlock private capital for Low-Income, Resource- Rich economies in Africa

In the post-pandemic world, Africa has found itself with limited options to finance key development projects. A rapid rise in debt levels over the last decade has left African economies with little fiscal space to finance development. The financial outlook for Africa’s low-income resource-rich (LIRR) countries, which are characterized by the central role commodities play in their economies, is especially dim. Collectively, these countries have not had success converting their resource wealth into economic development apart from a China-driven commodity super cycle from 2002 to 2012.

This article was Frist Published at t20brasil

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