A panel of African experts is calling for the formation of a borrowers’ club to boost collective advocacy in global finance.
The experts have also called on the Group of 20 major economies to team up with the International Monetary Fund (IMF) and others to launch a new debt refinancing plan for low-income countries.
“Its primary mandate would be to strengthen debtors’ voices in negotiations on reforms to the international financial and debt architecture,” Reuters Africa news quoted the team
On the debt refinancing, Reuters Africa says the experts said their proposal would focus on refinancing rather than rescheduling debt obligations.
The expert group, including a former South African finance minister and a former Kenyan central banker, said many countries need immediate debt relief.
The mechanism could be implemented through the creation of a special fund or the use of debt swaps that would use more affordable financing to buy back countries’ most expensive debt.
South Africa set up the expert panel in March to examine what needs to be done to help heavily indebted nations, especially in Africa.
Read the full story here (https://www.reuters.com/world/africa/africa-expert-panel-proposes-new-g20-debt-refinancing-initiative-2025-11-18/)