Global South scholars call for new legal debt relief structure

Scholars and public finance policy specialists from the Global South want an overhaul of the Debt Sustainability Analysis framework used by the Bretton Woods institutions (the World Bank and the International Monetary Fund) for its grave shortcomings.

At a conference in Accra, Ghana on Africa’s debt crisis, scholars affiliated to the International Development Economic Associates Africa Network and the African Forum and Network on Debt and Development said the debt sustainability framework does not favour economies in the Global South, worsening current fiscal pressures.